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AGENDA ITEM REVIEW FORM |
7.F.
Regular City Council Meeting
- Meeting Date:
- 03/23/2016
- Department Head:
- Kay Macuil
- Submitted By:
- Sonia Cornelio, City Clerk, Office of the City Clerk
Action Requested:
Motion
ITEM:
Discussion and possible action on any and all matters regarding the Second Reading of Ordinance No. 348. An ordinance of the Mayor and City Council of the City of San Luis, Arizona, amending the San Luis Tax Code 2014 by adding Subsection 35-840 (d) relating to Sales Tax Rate for Retail Sales of Tangible Personal Property; establishing an effective date; and providing for severability. (Kay M. Macuil, City Attorney)
A. Approval of Second Reading of Ordinance No. 348 by title only.
B. Approval and Adoption of Ordinance No. 348.
A. Approval of Second Reading of Ordinance No. 348 by title only.
B. Approval and Adoption of Ordinance No. 348.
SUMMARY:
A tiered sales tax is where there is a different tax rate depending on the amount of purchase. The proposed ordinance changes lowers sales taxes to 1.5% on single items costing $2,500.00 or more while the sales tax on remaining items of lesser value remain the same at 4%. A copy of the summary, minutes, and memo from the January 6, 2016 meeting are attached.
RECOMMENDATION / SUGGESTED MOTION:
A. I MOVE TO ADOPT SECOND READING OF ORDINANCE NO. 348 BY TITLE ONLY.
B. I MOVE TO APPROVE AND ADOPT ORDINANCE NO. 348.
B. I MOVE TO APPROVE AND ADOPT ORDINANCE NO. 348.
Fiscal Impact
- IS THERE FISCAL IMPACT ASSOCIATED WITH THIS ITEM:
- N/A
- CITY/STATE/FEDERAL FUNDS:
- N/A
- TOTAL:
- N/A
- BUDGETED:
- N/A
- AVAILABLE TO TRANSFER:
- N/A
- ACCOUNT #/REMAINING BALANCE:
- N/A
FISCAL IMPACT STATEMENT (IF THIS IS A BUDGET TRANSFER, YOU MUST ATTACH THE BUDGET ADJUSTMENT FORM):
It is thought that a reduction in tax for higher-priced items may stimulate businesses with higher-priced items to sell to locate in San Luis and so generate more sales tax revenue.