Friday, May 30, 2008

Cities Ratchet Up Sales Taxes

The Vertex Sales Tax Report found that 485 U. S. cities increased their sales tax rate, with about 300 increasing an existing tax and the rest adding a new city sales tax. Small communities saw the biggest increases but a number of larger cities such as Phoenix and St. Louis also added to their sales tax. Taxpayers in Colorado, Missour, Texas and Washington were particularly likely to see their city raise taxes. By contrast, South Carolina was the only state to raise its sales tax.

The seemingly insatiable desire for new taxes obviously exists at the local as well as federal level. One can only hope that citizens are getting their money's worth for the extra amounts taken from their pockets.

1 Comments:

Blogger theronn said...

Dan, what do you think is the reason for the rising taxes?

My guess is that it has something to do with the lost taxes from falling home prices. I'm from Phoenix which is has one of the largest inventories of new homes on the market and of course huge drops in the falling home prices. Due to the falling home prices, the school districts are all facing budget deficits and the city governments are also losing taxes.

Anyways, I was trying to email you about being a guess contributor to Schmoozii.com, which is a social network focused on Accounting / finance issues. Please email when you have a chance and I'll send you more information. Theron@schmoozii.net

3:08 AM  

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