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COUNTY HOLDS SALES TAX INFORMATIONAL MEETING
Thursday, March 24th, 2005 -- 12:32 pm
Posted by Riley Hebert-News Director
Clark County sponsored a sparsely attended informational meeting on the half-percent sales tax Wednesday night.
The meeting at the Loyal Legion Hall featured Mike Hinnendael of the state Department of Revenue. He explained some of the nuances of the tax, including the fact the state would actually receive about 1.75% of county revenue to cover administrative costs.
It’s estimated that Clark County would receive an additional $1.5-million in annual revenue from the tax. If it was used to pay down the levy (as required by statute), the projected 2005 mil rate would have dropped about a dollar from $7.69 per thousand-dollars of property to about $6.62. That would mean around $100 in property tax relief for the owner of a $100,000 property.
While no estimate was available for Clark County, Hinnandael said neighboring Wood County estimated about 17-percent of their sales tax revenue came from non-county residents.
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