Miami-Dade 2040 LRTP - Oct. 23, 2014

5-8 | MOBILITY OPTIONS Table 5-5 | Potential Revenue Sources Forecasted (Millions of YOE $) Potential Revenue Sources Potential new public sector revenues (taxes or fees) can be categorized into existing sources and new sources. The existing sources may be increased either by Board action (such as the Board of County Commissioners or the MDX Board of Directors) or by countywide referendum, with no approval or new legislation required from the State legislature. New funding sources, by contrast, would generally require a referendum by the voters, legislative grant of significant new authority to the County, and in some cases a state constitutional amendment might be required. However, changes to some of the “smaller” existing fees could also require state legislative approval. The existing and potential new local public sector sources that may be considered by the MPO are summarized in Table 5-5 . The existing and new local public sector sources under consideration by the MPO are summarized in Figure 5-3 . The Vehicle Miles Traveled (VMT) is the only new possible revenue source identified. Source Rate 2019- 2020 2021‐2025 2026-2030 2031-2035 2036‐2040 Total 2019-2040 Sales tax (charter county and regional transportation surtax) 0.5% (half cent) $568 $1,574 $1,818 $2,101 $2,428 $8,490 Additional Real Property Ad Valorem Tax $0.25 per $1000 in Taxable Value $115 $314 $356 $402 $455 $1,643 Existing Local Option Gas Tax (LOGT) 2¢ per gallon $41 $105 $108 $110 $113 $478 Additional Parking Fee $0.5 per space $4 $11 $11 $11 $11 $46 Additional Hotel Occupancy Tax 0.5% (half cent) $18 $49 $56 $65 $75 $262 VMT Tax 1¢ per mile $276 $713 $746 $781 $818 $3,335 Note: Totals may not add due to rounding.