Atlanta special sales tax revenue hitting target, councilmember says

The City of Atlanta’s revenue from a new transportation special local option sales tax is doing fine, according to a City Council member, while the rest of Fulton County worries about lower-than-expected income from a similar, separate tax.

Fulton is planning an audit to solve the mystery of why its TSPLOST revenue is 10 to 30 percent lower than projected since the tax jump from 7 to 7.75 percent took effect April 1. The mystery only deepens with news of Atlanta’s TSPLOST, which went into effect the same day and raised the city’s total sales tax to 8.9 percent, hitting its targets.

Atlanta City Councilmember Howard Shook, who represents District 7 in northeast Buckhead, said that city Chief Financial Officer Jim Beard reports that both the new TSPLOST and the municipal local option tax for water and sewer service “are meeting projections.”

There are several possible explanations for Fulton’s TSPLOST revenue issue, such as faulty projections, businesses failing to charge the new tax, or lower consumer spending.

Read the rest of this story at Reporter Newspapers

No Comments Yet

Comments are closed

Sign up for our emails

Enter your email and stay on top of local news!