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In the United States, a local option sales tax (often abbreviated LOST) is a special-purpose tax implemented and levied at the city or county level. A local option sales tax is often used as a means of raising funds for specific local or area projects, such as improving area streets and roads, or refurbishing a community's downtown area.
Local officials have the ability to influence the rate of change of property taxes that are used to fund local expenditures, including education. [ 10 ] Due to the varied levels of income throughout states and within local communities, education funding suffers from inequalities where some communities have excessive funding and others are ...
All but five states impose sales and use taxes on retail sale, lease and rental of many goods, as well as some services. Many cities, counties, transit authorities and special purpose districts impose an additional local sales or use tax. Sales and use tax is calculated as the purchase price times the appropriate tax rate.
Jul. 11—A decision by the Valley View School Board 10 years ago helped avoid a tax increase this year. With the Keystone Opportunity Zone status of the Invenergy plant in Jessup expiring, the ...
In 1969, voters twice rejected the local schools’ request for 9.6 mills of tax money in the form of a 4.5 mill renewal request and an additional 5.1 mill levy.
The proposed $889 million Durham County budget would boost pay for county employees and public school teachers by increasing property taxes. ... $10.8 million increase in local money the Board of ...
State or local taxable bond financing used to effect ad valorem property tax exemptions. Tax increment financing , allocating all or a portion of new taxes (i.e., ad valorem property taxes , sales taxes ) generated by projects or capital investment for the direct or indirect benefit of a private enterprise.
A special-purpose local-option sales tax (SPLOST) is a financing method for funding capital outlay projects in the U.S. state of Georgia.It is an optional 1% sales tax levied by any county for the purpose of funding the building of parks, schools, roads, and other public facilities. [1]