How much would the local option sales tax be and how long would it be in effect?

The proposed L.O.S.T would be one-half of one percent (0.5%), or $.50 on every $100 of taxable purchases for 20 years. This would generate an estimated $30 million in funding. State law requires the tax to automatically sunset once funds required for the projects are collected, or the proposed 20 years (pending approved legislation), whichever occurs first.

Show All Answers

1. What is a local option sales tax?
2. What can receipt of local option sales tax funds be used for?
3. Can any city create a local option sales tax?
4. What does Monticello want to fund using a sales tax?
5. How much would the local option sales tax be and how long would it be in effect?
6. What happens if the local option sales tax is not supported by voters?
7. What is the estimated timeline for the local option sales tax?