The Camp Verde Town Council rolled up its sleeves last week and started getting into the work of planning out the budget for the 2015-16 fiscal year, which begins Wednesday, July 1.
Budget work sessions were held April 29 and Friday, May 1, with others planned for this month.
The town recently increased its sales tax from 3 percent to 3.65 percent while continuing to exclude food from the tax. Numbers as of the end of March show that the town is on track to bring in around $40,000 less than expected due to the increase, Town Manager Russ Martin said.
Other budget issues include the recent problem with the Steve Coury auto dealership on the edge of incorporated town limits. The dealership was annexed into town limits through a February 2005 agreement that provided tax benefits. The dealership’s lot currently stands empty and there have been talks to bring another dealership to the area.
All of this coming together led Martin to make a proposal that could potentially change the town’s tax structure when it comes to purchasing big- ticket items like cars, trucks and recreational vehicles. The idea would be to set up the sales tax in a tiered system, Martin said, where the tax rate would drop on a purchase once a certain dollar amount is reached.
To read the full story, see the Wednesday, May 6, edition of The Camp Verde Journal.
