North Carolina – Sales Tax Distribution Change

SALT Report 3807 – Davie County commissioners voted May 2, 2016 to support a resolution that is intended to soften the financial hit that the county’s three towns will take under a new sales tax distribution method.

In April, commissioners voted 3-2 to change the way that sales taxes are distributed, from a method based on the population in the towns of Bermuda Run, Cooleemee and Mocksville to one based on the property values within the towns, known as the ad valorem method. The N.C. General Assembly gives commissioners in each county the power to decide the method.

The ad valorem method will mean about $800,000 more for the county, money that would have been distributed to the towns under the per capita method.

For further Information:

http://www.journalnow.com/journal_west/news/agreement-would-lessen-impact-of-sales-tax-change/article_62cbd749-d7f8-5569-b067-9cb1b845cbb2.html