Jamestown shoppers would keep paying a 2.5% city sales tax after the Two Rivers Activity Center debt is retired if a city proposal becomes law.
The City Council will review a proposed replacement 1% replacement at their city council meeting tonight. A council committee advanced the proposal last month on a 3-to-2 vote.
A KSJB review of city ordinances and budget records shows the existing tax is divided among four purposes. On a $100 general purchase, approximately $1 goes to TRAC debt and operations. Fifty cents supports economic development and jobs. Another 50 cents helps cover the city’s share of special assessments and public works costs. The final 50 cents of tax supports infrastructure and the Civic Center.
The city budgeted nearly $7.9 million from those taxes this year. The TRAC cent expires when the bonds are paid, no later than June 2035. City officials say they expect that payoff late next year.
The Jamestown Sun reports the replacement tax would start Oct. 1, 2027, and run through September 2057, or longer if related obligations remain. The broad draft could fund infrastructure, public safety, city buildings, and other projects determined by the City Council.
If collections stayed at this year’s budgeted pace, the replacement cent would bring in about $94.5 million over 30 years, before administrative costs.
Parks and Recreation separately wants voters to dedicate one cent of the tax towards its $95.3 million capital plan.
Tonight’s meeting starts at 5 p.m.
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