The Town of Camp Verde has approved a new tax structure when it comes to purchasing items that cost more than $5,000.
There are 20 other municipalities in Arizona that have a similar tax structure.
The town’s sales tax rate is currently 3.65 percent.
Under the new plan, consumers would be charged that rate for the first $5,000, then the tax rate would be reduced to 1 percent on anything after that for a single item, like a car or recreational vehicle.
The new tiered structure was considered after the town was looking at options to help bring a new car dealership to the empty Steve Coury auto lot on the edge of town.
The dealership on State Route 260 was annexed into town limits through a February 2005 agreement that provided tax benefits to the owner.
The Town Council is hoping that lowering the tax on larger purchases will bring more sales to Camp Verde.
To read the full story, see the Wednesday, May 27, edition of The Camp Verde Journal.
