One Town Considers Sales Tax Increase
Options to sales tax increase.
The Plattsmouth City Council had already heard about how an additional half-cent sales tax could provide a $300,000 a year funding mechanism for implementing the downtown "Streetscape"—a plan that would renovate the Main Street business district.
The Cassgram reports that at their last meeting, council members were presented with additional information on two other options. The council withheld discussion until a future meeting.
Tax increment financing (TIF) and a sidewalk improvement district (SID) are the other ways the Streetscape could be funded, said City Administrator Erv Portis.
TIF assumes valuations will increase and result in higher property taxes for the pay back, said Portis.
Property owners within the targeted business district would make the payments under the SID plan, he said.
In presenting the additional information for study, Portis advised council members it might be a combination of plans or even another funding avenue that could pay for the work.
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