Sales tax revenue allows the County to provide better service to residents. This sales tax revenue will help fund:
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Under N.C.G.S. 105-535, the NC General Assembly gives county boards of commissioners the authority to place an additional one-quarter cent (1/4¢) county sales and use tax on the ballot for voters to decide on.
The Board of Commissioners is looking for alternative revenue sources to provide services to the public without increasing taxes on the property owners. Sales tax affects everyone making purchases in the County. Visitors traveling through will pay this tax as well, not just our residents. Alternative revenue like this will allow the Commissioners to possibly lower property taxes.
This sales tax would add one penny to a $4 purchase, one quarter to a $100 purchase, and one dollar to a $400 purchase. If this sales tax passes, it would raise the sales tax rate from 6.75% to 7%.
If the sales tax referendum passes, this will generate approximately $2.8 million. A 1 cent property tax increase only generates $900,000. To raise the same amount of revenue, the property tax would have to increase 3 cents.
The sales and use tax referendum excludes gas, prescription medication, and non-prepared foods or groceries.
The sales tax rate you pay will not go up 12.5%. The sales tax rate is currently 6.75% in Wayne County. If this referendum passes, the sales tax will increase to 7%. This is a .25% increase.