Presentation on theme: "Scotland County Sales and Use Tax Referendum Information about the 0.25% Optional Sales Tax."— Presentation transcript:
Scotland County Sales and Use Tax Referendum Information about the 0.25% Optional Sales Tax
Why Sales and Use Tax Referendum? The 2007 General Assembly recognized that counties need alternative means of paying for public facilities and infrastructure. Counties need revenue sources other than property taxes. Everyone pays it.
What question will be placed on the ballot? "[ ] For [ ] Against Local sales and use tax at the rate of one-quarter percent (0.25%) in addition to all other State and local sales and use taxes."
When will the sales tax referendum be conducted? Tuesday, November 6, 2012
Are there restrictions on the use of the new sales tax revenues? State law does not restrict the use of the 0.25% sales tax
Can a county stipulate uses of these monies on the ballot as a part of the referendum? No The referendum question is set by statute.
How much will a 0.25% sales tax raise? $601,376 North Carolina Association of County Commissioners Estimated Article 46 1/4 Cent Sales Tax based on NC-DoR Article 39 Distributables
How will the money be used? Capital – Major repairs and renovations to buildings – New construction – Life exceeding 10 years Economic Development