Audit Report 13-08, Community Investment Tax, Released

03/18/15
This notice is archived content and this information may no longer be accurate.
The Internal Audit Department released their audit report of the Community Investment Tax.

The voters of Hillsborough County approved an additional half-cent sales surtax via referendum on September 3, 1996. The surtax was effective December 1, 1996, for a period of thirty years. The approved referendum permits the proceeds from this "Community Investment Tax" to be “used to acquire, construct and improve general government, public education and public safety infrastructure to promote the health, safety and welfare of Hillsborough County residents.” This is a revenue that is shared with the County School Board (fixed 25%), financed the Raymond James stadium (community stadium), Hillsborough County, Temple Terrace, and Plant City. Hillsborough County and the municipalities received a pro-rated share based on established distribution formulae.