West Point Nebraska Looking For Sales Tax Increase
- Sales Tax News
- Apr 19, 2012 | Susan McLain
West Point City, Nebraska is looking to see if “…West Point voters approve an additional one-half percent sales tax May 15.”
The Local Option Municipal Economic Development Act passed in 1991 (Legislative Bill 840) allows local sales taxes to imposed for economic development. The Act “…allows cities to use locally collected tax revenue for a wide variety of economic development functions as long as the spending is spelled out in a locally approved plan.”
The city intends to use the “…revenue gained from the one-half percent increase to be split between economic development and general capital improvements that will include park and recreation facilities." Some specific improvements include upgrading the brick streets, sidewalks and street lights, orchestrating a “store front improvement” program, spurring housing developments and growing the city’s revolving loan fund program.
If voters decide to approve the half-cent increase, the local sales tax would raise to 1 ½ percent.