Tax Hike Worries Businesses
The city of Holts Summit has one of the highest sales taxes around. Now how does that figure in real terms? At Scott's Corner, if you bought just three gallons of oil, it would cost you a little over $60 and $5 of that would go to taxes.
Holts Summit sales tax is 8.25 percent, but not all of that goes to the city.
"We receive three cents on the dollar and that's what we operate this city on," said Cheryl Fletcher, City Clerk.
Holts Summit does not have a property tax so it relies solely on that sales tax.
Scott worries the county did not consider what the half-cent tax would do to cities.
"How will it affect each little, individual township like Holts Summit?" said Scott.
If the tax passes, Scott says that coupled with the already high sales tax in Holts Summit, the half-cent increase might drive customers down the highway toward cheaper prices.
The Holts Summit community betterment association plans to meet Thursday morning to discuss the effects of the tax increase on city businesses.
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