Posted 2/12/2014 10:17 am
Updated 4 weeks ago
SEARCY — Searcy voters have approved a 1 percent sales tax increase to fund a variety of city services, including street and infrastructure improvements and payments into the police and fire retirement system.
According to unofficial results, about 64 percent of voters approved the tax increase during a special election Tuesday. The levy will increase the city's existing 0.5 percent sales tax to 1.5 percent for eight years. The Daily Citizen reports that the tax increase is expected to generate $51.2 million over eight years.
The tax goes into effect July 1.
About $12 million from the tax will pay for street resurfacing and improvements, while $9 million will pay for projects to improve drainage and flooding issues. Nearly $6 million will go into the Local Police and Fire Retirement System.