E-SPLOST renewal question to be on November 7 ballot
The Fayette County Board of Education on July 24 unanimously approved the inclusion of the continued E-SPLOST (education special purpose local option sales tax) question on the Nov. 7 ballot.
It would not be a new tax: retail buyers in Fayette already are paying a one-cent per dollar education tax on most purchases.
Above, the Fayette County Board of Education on July 24 voted to have the E-SPLOST includes on the Nov. 7 ballot, Pictured, from left, are board member Brian Anderson, Superintendent Jody Barrow, Chairman Barry Marchman and board members Diane Basham and Leonard Presberg. Out of picture to the left was board member Scott Hollowell. Photo/Ben Nelms.
The current E-SPLOST expires in March 2019, with the school board at the April 10 work session reviewing the idea of continuing the sales tax initiative.
The school board at the meeting approved the language to be included on the ballot which includes a five-year term and a $145 million maximum revenue collection ceiling.
Project categories for the current E-SPLOST include debt payments, facilities and additions, technology and equipment, safety and security equipment,furniture and equipment, transportation equipment, new construction and textbooks and instructional material.
The ballot language also includes the ability of the school district to be authorized to issue general obligation debt in the principal amount of up to $25 million.
Revenue for E-SPLOST III comes with anticipated maximum revenue of $145 million, up from the potential $107 million under the current ESPLOST II. The increase is a sign that sales tax revenues are expected to continue to rise.
By comparison, during the time of the recession, the first E-SPLOST generated $97 million in revenues.
