As a recurring weekly feature, Town Talk will include content written by local officials about a talking point in local politics. Below is a piece written by Orange County Board of Commissioners Chairwoman Bernadette Pelissier.
What is the benefit of voting “Yes” for the quarter-cent sales tax on November 8th? The short answer is that it allows us to make an investment with a guaranteed positive return for Orange County. In and of itself, a quarter-cent sales tax diversifies our revenue sources. More importantly, using half of the sales tax revenue ($1.25 million per year) for economic development will help decrease the dependence on property taxes: we will increase the percentage of tax revenues from non-residential sources. It will also provide much needed capital monies for schools. The state has cut funding for schools but we still need to maintain the facilities to ensure the safety and welfare of our students and teachers.
Orange County has valuable assets: an excellent quality of life and educational system. Businesses are attracted to communities with such assets. What we are lacking is sufficient space for these businesses. Where is the space for the spin-off businesses from UNC? Where is the space for “green” light industry? We have the space but the water and sewer infrastructure is not there. The sales tax will provide monies for this infrastructure. It will also be used to provide start-up capital and expansion funds for small businesses. It will provide innovation space and increase support for agricultural economic development efforts.
How does this quarter-cent sales tax compare to property tax? It will generate 2.5 millions dollars per year. One cent on the property tax generates 1.6 million dollars per year. It will cost the average citizen approximately $20 per year. Groceries, gasoline and prescription medications will be exempt. Approximately 20 percent of this tax will be paid for by visitors and tourists.
The quarter-cent sales tax is an investment in jobs and schools and will increase the financial stability of this county over the long-term.
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