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2005_0620_Packet
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2005_0620_Packet
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Roseville City Council
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ATTACHMENT 6 <br />Overview Memo re: Local Sales and Use Tax <br />Finally, considerable comment was made regarding a general desire for cities to demonstrate a <br />regional benefit that overlaps multiple jurisdictions as criteria for approval. Although most <br />would acknowledge the difficulty in defining what "regional benefit" might be. <br />Conclusions and Recommendations <br />The Department of Revenue's report contained the following conclusions and recommendations. <br />a) The local sales tax plays a valuable, but supporting role in the larger picture of state and <br />local government financing. <br />b) The local sales tax is best used as a mechanism for the financing of large, special, r�-�ul#i- <br />jurisdictional capital projects rather than as a funding replacement for general operating <br />expenses. <br />c) The current process for authorizing new local option sales taxes is widely perceived to be <br />subjective and political. <br />d) Objective criteria and a more straightforward process for consideration should be <br />developed. <br />e) Criteria for approval should include a demonstration that the property tax and state aid is <br />insufficient to adequately fund the capital project. <br />�} A proposal should be considered stronger if it came from a multi-jurisdictional compact. <br />g) Local approval via a referendum should be known before submitting a proposal to the <br />Legislature. <br />h) Authorization for a local sales tax should remain with the Legislature. <br />Final Comments <br />Based on the findings and recommendations contained in the Department of Revenue's report, <br />the City of Roseville could pursue the idea of enacting a local sales tax in Roseville. Roseville's <br />economic base places it in a strong position to capitalize on such an action, without dramatically <br />impacting residents. However, as is reflected above, a number of challenges would exist in <br />gaining approval from the Legislature. <br />For the curious, if Roseville were to enact a half-cent (0.5%) local sales tax, it would receive <br />approximately $5 million annually. For comparison purposes, this represents approximately <br />15°/o of our total budget. This amount would also support the principle and interest costs of a <br />$55 million bond issue at today's interest rates. <br />ATTACHMENT6 4 <br />Overview Memo re: Local Sales and Use Tax <br />
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