What is an economic development sales tax?

Municipalities are authorized by state statute to implement a sales tax for economic development. 

  • This sales tax must be used for economic development activities detailed in the statute.

    • This can include improving or building roads, sidewalks and other infrastructure, adding parks and trails and updating existing buildings and property if it will improve the community.

  • The tax must be approved by the majority of voters. 

  • The Board of Aldermen must vote to collect the tax and can suspend or repeal it any time.

  • This sales tax does not authorize the City to incur additional debt; it only authorizes the City to collect a sales tax to produce revenue for economic development activities.

Show All Answers

1. What is an economic development sales tax?
2. How will businesses in the redevelopment area be impacted?
3. Has the City made a decision on the types of land uses or economic development projects they would like to see in the project area?
4. How much acreage will be available for economic development once the project is complete?
5. How will Brentwood Bound impact local property taxes?