Paris to Repeal Property Tax Hike if Local Option Sales Tax Passes
Paris City Commissioners have unanimously pledged to repeal an 8 cent property tax increase that went into effect in the current fiscal year if voters there approve a local option sales tax this March. City Manager Carl Holder says one motivation for the commissioners decision last week was a long-held belief that a local option sales tax is the fairer route.
According to Holder, backing the property tax repeal isn't just a matter of good faith. "It'll be about $640,000 net that would be produced," he said, "if the half-cent local option sales tax does pass."
Holder says the property tax hike was the first such rate increase in 25 years. Holder estimates that, on its own, the property tax would generate around $135,000. The local option sales tax referendum is slated for March 17th.