Projected Tax Revenues
The transit tax is estimated to generate $50 million during the first year starting in 1999.
The Program Operating Expenditure is in Adobe Acrobat Reader format. Please download the FREE software from Adobe.
Transit Program Summary FY2007-2011
Transit Sales and Use Tax:
In November 1998, the residents of Mecklenburg County approved, by a margin of 58% to 42%, an one-half cent increase in the local sales tax to fund new transit operations throughout the County.
State Stature:
NC State legislators approved, in General Statute G.S. 105 - 505 to 510, for Mecklenburg County to hold a referendum on a tax for transit.
What is taxed:
The half-cent sales tax is included in purchases of everything except:
- Groceries
- Prescription Medication
- Gasoline
- Liquor
What the Transit Tax funds:
The General Statute requires that the existing funding of transit services, as the 1997-1998 level (FY98), provided by the county, city and towns continue, and that the tax revenues be applied toward new and expanded transit services. The funding level for existing transit services as of FY98 by the municipalities amounted to the following:
Mecklenburg County $464,034 City of Charlotte $18,400,000 Huntersville $17,500
Administration of the Tax:
The Metropolitan Transit Commission (MTC) will plan and oversee future transit services and will recommend to elected bodies how the funds are to be expended.
|
|
|