Did You Know....

Sales Tax Fast Facts
Posted on 2010/04/12

The temporary sales tax would be one percent or one cent per dollar.

 

  • It would be in effect for three years, from June 1, 2010, to May 31, 2013.
  • The sales tax is expected to generate $2.9 billion in revenues over three years.
  • Two-thirds of that sales tax revenue - or $1.9 billion - would go to K-12 public education.
  • The sales tax does not solve the state's deficit, but is a critical part of the solution.

  • Two-thirds of the revenue generated by the sales tax increase to go to support public elementary and secondary education. Based on the expenditures proposed in the Governor’s 2011 budget, the projected $898 million in revenue would be allocated as follows:

    Primary education             $695 million

    Secondary education        $203 million

  • K-12 education would receive a 20%  reduction in state support for school district operating budgets without a one cent sales tax.
  • The Governor’s budget assumes the passage of the one cent sales tax. The total proposed expenditures in the Governor’s budget are $8.6 billion, of which $898 million is supported from the revenues generated by the sales tax increase.