As proposed, the Town of Perdido would qualify for these funds. State-shared revenues come from sales tax (the 1% and half-cent county sales taxes) and a portion of other state tax revenue. These funds go into a pool at the state and are distributed to local governments according to a complex formula, as determined by the Florida Department of Revenue.
Depending on the type of state-shared revenue, these funds may be used for various purposes. For example, a large portion can be utilized for capital improvements and new projects.
The Florida Department of Revenue has provided estimates of the share of these funds that would transfer to the municipality if incorporated as proposed. And while access to these funds is contingent on a qualification (the “three-mill equivalency test”), the proposed Town of Perdido would, in fact, qualify for these funds.
This conclusion is based on advice from consultants, municipal attorneys, and Florida’s own constitutional law precedent. Provisions added in Perdido’s municipal charter would make this possible. The approach follows the Florida Attorney General’s guidance for new municipalities (see AGO 74-120) and examples provided by previous incorporations based on that guidance. The bottom line is that a newly-formed Town of Perdido, as proposed, would meet the “three-mill equivalency test” using only existing revenue sources.