From today’s Reidsville Review:
“County commissioners plan to cut $1 million from the 2008-09 budget to compensate for a growing deficit, and put a quarter percent sales tax on the May 6 ballot. Revenue would go toward the school capitol fund. Though the tax would generate an estimated $1.67 million the first year, possibly growing in time, it would provide a revenue stream the county would use for debt payments. The school board decided to ask for the $60 million loan, assuming the sales tax would not pass.
Without the sales tax, the county has no revenue stream to make annual payments against a $60 million balance. In that case, the county would raise property taxes, a measure commissioners and county administration hoped to avoid by proposing a vote on the sales tax.“
Our response:
“To say that the county lacks a revenue stream to finance a $60 million loan is simply inaccurate.
I would first question whether that is a statement of fact you can attribute to a source, or an editorial comment on the part of the newspaper.
Local schools have yet to submit a line item budget for review and there is no way of knowing what money is available in the school budget to be saved or transferred to loan finance.
Old leaders using old tricks will simply not work this year.
A sales tax burdens low income residents six times greater than those with high levels of disposable income. Members of the school board, county commission and the Partnership for Economic Development may have a large level of cash on hand, but the great majority of county residents are struggling to provide necessities for their households.
Cutting spending at the county level is what local residents expect, demand and require before we approve any additional money for local government to spend.
Vote NO to local sales and use tax on May 6.
Visit stopthehike.wordpress.com for more.”
Posted by jhs
