Excess Sales Tax Program
The City of El Dorado has voted in favor of a one percent sales tax since 1990. The current sales tax began October 1, 2019 and ends September 30, 2024. City Ordinance S-1323 states that $600,000 is allocated to street rehabilitation, $1,350,000 is allocated to property tax reduction, and $50,000 is allocated to economic development. After ordinance items are funded, the remaining balance is deemed "excess sales tax". Each City Commissioner nominates an individual within the city to the Excess Sales Tax Committee. The committee makes recommendations for the use of excess sales tax and submits them to the City Commission for consideration.
Per Ordinance, the excess sales tax can be used for additional street rehabilitation, property tax reduction, and capital expenditures. Property tax reduction can be no more than $1,650,000 ($1,350,000 + 3.49 mills). Capital expenditures are described as "an addition or structure that enhances the value of a property, a replacement or upgrade that extends the life of an asset or equipment acquisition." Street rehabilitation is described as maintaining and rehabilitating the existing geometrical alignment of improved city streets, which included portions of curb and gutter removal and replacement, mill and overlays, pavement replacement, and pavement related to storm drainage facilities.
To see a list of projects from prior years, click on this link.