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Sunday, May 1, 2016

County designates LOST funds

Monday, July 23, 2007

The Cherokee County Board of Supervisors, meeting in special session Monday, approved a continuation of the present designation of funds for the Local Option Sales Tax.

The one cent sales tax for the county and for the city of Cherokee are not set to expire until 2011 but the tax for the city of Quimby will expire at the end of the current year. In order to hold an election, entities representing at least half of the population of the county must participate.

The county portion of the LOST revenues is voted on by those living in the unincorporated portion of the county, (outside of any city limits). The county designated the use of the county portion on the ballot when first approved to be 75 percent property tax relief and 25 percent county betterment.

At the Monday meeting, it was decided to continue this same use of the county's portion of the revenues.

The distribution of revenue to the various political entities of the county is not based on where the tax is collected but instead is based on a formula that takes into account property valuation and population.

The LOST vote will be held on Oct. 2 in Cherokee, Quimby and the rural portion of the county.

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