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Summerville staff says county has been returning larger sales-tax credit than state formula requires
Summary
Town finance staff flagged that Summerville has been applying a 71% credit of local-option sales-tax revenue back to taxpayers while state law requires the full property-tax-credit portion be returned; changing to the statutory method would raise some homeowners’ bills and increase general-fund revenue available to the town.
Town of Summerville finance staff told council members that the town’s treatment of the local-option sales-tax credit differs from the statutory calculation and that adjusting to the state formula would raise tax bills for some homeowners while freeing more revenue for town operations.
The finance presenter said the statute requires the county treasurer to split collections into a property-tax-credit portion and a municipal portion, and to return 100% of the property-tax-credit portion to taxpayers. The town, however, has been using a practice that effectively returns 71% of the combined total instead of applying the statutory split — a pattern the presenter said…
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