TITLE
Title
RESOLUTION OF INTENT UPON THE PASSAGE OF THE ONE-QUARTER CENT (1/4) COUNTY SALES AND USE TAX PURSUANT TO ARTICLE 46 OF CHAPTER 105 OF THE NORTH CAROLINA GENERAL STATUTES
end
SPONSOR
Sponsor
Chairman Melvin "Skip" Alston
end
RESOLUTION
Resolution
RESOLUTION OF INTENT UPON THE PASSAGE OF THE ONE-QUARTER CENT (1/4) COUNTY SALES AND USE TAX PURSUANT TO ARTICLE 46 of CHAPTER 105 OF THE NORTH CAROLINA GENERAL STATUTES
WHEREAS, property taxes account for approximately 60% of County revenue, while sales taxes account for only 15% of County revenue; and
WHEREAS, the Guilford County Board of Commissioners has considered alternative revenue sources to carry out the recommendations in the Guilford County Schools Facilities Master Plan; and
WHEREAS, Article 46 of Chapter 105 of the North Carolina General Statutes authorizes Guilford County to levy a local sales and use tax at a rate of one-quarter cent (¼¢) if approved by voters in an advisory referendum; and
WHEREAS, Guilford County is a regional shopping, dining and entertainment destination, and such sales and use tax would be paid in part by non-residents of Guilford County who make purchases in the County, and the local sales and use tax would not apply to purchases of prescription medications, gasoline or groceries, other than prepared food and similar items; and
WHEREAS, it is estimated that a one-quarter cent county sales and use tax would bring an estimated $20 Million dollars in additional revenues per year; and
WHEREAS, the passage of the one-quarter cent (¼¢) county sales and use tax would help to prevent significant increases in the property tax burden on homeowners and local businesses, and encourage economic development while providing for the educational needs of the children of Guilford County and the demands for renovated and new school facilities; and
WHEREAS, if approved by the voters, these proceeds will be incorporated into the County’s financial policies for the intended use towards...
Click here for full text