Cap. tax talks kick off
Date posted: April 16, 2013
SHERIDAN — Sheridan City Council approved a resolution inviting Ranchester, Dayton, Clearmont and the Sheridan County commissioners to begin the process of proposing projects to be funded by the Capital Facilities Tax at its regular meeting Monday.
Once projects are approved, the city, county and area towns will set funding needs for each project to determine the total amount to be raised by the tax. That amount and the specific purposes it will be used for will then go before voters on the November 2013 ballot.
“The Capital Facilities Tax is a specific purpose tax that is set for a dollar amount,” city Clerk Scott Badley said. “It runs the length it takes to either complete the projects or collect that amount of tax.”
The tax is a sales and use tax that cannot exceed 2 percent per dollar.
Sheridan’s current Capital Facilities Tax is one cent and is set to be collected by June 2014. The renewed tax would also be 1 percent.
The most recent Capital Facilities Tax, passed in 2009, was set at $25 million.
Representatives from the city, county and area communities met Monday to discuss project ideas such as a natural gas line in Ranchester and Dayton, county road and bridge projects and city capital improvement projects.
Additional meetings and public outreach efforts will be held this spring and summer. In August, a resolution approving the proposed tax must be signed to place the tax on the ballot.