You are voting for a continuance of an existing 1% SPLOST that has been in existence since 1987, which has a term of 6 years. Estimated collection over the 6 years is $354,131,406, $22,009,621 to the City of Cumming, the remaining balance to Forsyth County.
Funds are used for capital expenditures and improvements, not the operating budget. It is estimated that 34% of the funds collected will come from purchases made from residents/entities outside Forsyth County.
Things to Consider When You Vote
The Deep Dive Sales tax on most transactions in the County is 7%, 1% of which is the SPLOST for which a continuance is requested. SPLOSTs are the primary way the County funds its capital expenditures. Other ways would be the issuance of debt (General Obligation Bonds or Revenue Bonds) or property taxes. The County does not like to issue debt and has not increased its property taxes for a long time. The $354,131,406 is an estimate and collections could be more or less. If the SPLOST is not approved, the County would need to prioritize and delay projects, redirect funds from the General Operating Budget and cut. This would require that, for example, they would need to decide whether to expand a library or buy radios for the Sheriff's department. They may also need to raise property taxes. The Breakout of Budgeted Spending for this SPLOST Most of the items listed below are already part of the County’s capital budget and, in fact, may have been planned many years ago with some spending already taking place. While there are some dollars not specifically allocated, much are through the normal capital budgeting process. This information is readily available from the County. Comments are closed.
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October 2024
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