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City staff outline commercial/industrial transportation tax option; recommend waiting for qualifying projects
Summary
Staff briefed council on a state-authorized commercial/industrial tax for transportation (maximum 12.5¢ per $100 assessed value) and estimated about $2.5 million in annual revenue at current assessments; staff recommended considering the tax in the future once qualifying transportation projects are identified.
City staff presented background on a state-enabled option for local jurisdictions to impose an additional real-property tax on commercial and industrial properties to fund transportation projects. The ordinance language and legislation were included in the agenda packet.
Staff noted the statutory…
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