This decision came after the State Legislature passed HB386, which eliminates sales tax being accessed on these industries and would result in a loss of revenue to government entities.
In the legislation, the state also provided the right for local governments to impose an excise tax to recover the lost revenues. Therefore, officials gathered at Polk’s Administration Building to discuss options.
The estimated impact to 2013 budgets would be $42,000; then $84,000 in 2014; $126,000 in 2015; and $168,000 in 2016.
Rockmart Manager Jeff Ellis asked the officials to consider how this would affect each entity and countywide economic development.
“If you impose this tax, industrial developers will not visit you,” he said. “It will have a negative on economic development. If we land one industry, we will get our money back. We don’t need to overreact because of another state mandate. The repercussions would be more detrimental than waiting to make a decision.”
The group agreed to take no action but wait a year to determine how HB386 would affect other entities in Georgia.
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