The proposed ordinance is for a one percent sales tax with a bilateral funding allocation: 50% for public safety and protection realized through capital improvements, staffing and maintenance, and 50% for public quality of life infrastructure achieved through building, maintaining and staffing various projects.
The specific breakdown is: a quarter-cent for police department improvement projects, a quarter-cent for fire department improvement projects, and a half-cent for quality of life infrastructure improvement projects.
The proposed tax has a 12-year sunset clause, meaning it will expire at the end of 12 years from its enaction.
Based off current tax revenue collections we anticipate that a 1% sales tax will raise approximately 18 million dollars annually without new growth.
Over its 12-year life, a zero-growth projection would generate approximately 216 million dollars, which will not only accomplish a great many safety and quality of life goals, but also provide a significant impact on overall economic activity in Jonesboro.
It is estimated that more than half (between 50%-60%) of the sales tax revenue will be paid by people living outside the city limits of Jonesboro, based on analysis of annual spending in the local economy. This means that Jonesboro citizens can make local residents much safer and build new amenities for roughly 50 cents on the dollar.
WILL YOU JOIN THE TEAM?
If you support Jonesboro’s safety, growth and future, it’s easy to show it — become part of Team Jonesboro