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Data provided for possible sales tax conversion

by | Nov 29, 2018 | Latest

Murphy City Council heard firm figures on an election to convert a portion of sales taxes designated for economic development to street construction and repairs, and took action on waivers requested for a new commercial building.

The council met in regular session Tuesday, Nov. 20.

Asking voters to reallocate sales tax revenues to streets from Murphy Municipal Development District was originally addressed in a workshop held Nov. 6 at which council members asked city staff to provide additional information.

City Manager Mike Castro reported that MMDD, which is tasked with attracting business and industry to town, currently has a fund balance of $2.37 million and annually receives $991,000 from a half-cent city sales tax to fund operations.

 

For the full story, see the Nov. 29 issue or subscribe online.

 

By Joe Reavis • [email protected]

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