At its regular meeting this evening, Newport City Council will hold a public hearing as it considers a 5% tax on prepared food and beverages and a $.05 per gallon gas tax.
From Newport Mayor Dean Sawyer:
because they equitably distribute the burden between the city’s 10,000 residents and the nearly 20,000 visitors who utilize city services and facilities.
· The gas tax is expected to generate $392,000 in revenue annually and will be used for maintenance and repairs to streets within the city. The city estimates it needs to invest $2 million per year in the street system to keep up with wear and tear.
· Expected to generate $2,543,000 annually, the prepared food assessment would be paid by the consumers of prepared foods as separate line items on their bills. The vendor would collect the tax and turn those funds over to the city on a quarterly basis.
· The prepared food tax would fund the following positions and projects:
o Three police officers, one parking enforcement officer, three firefighters/EMTs, one bilingual librarian and a part-time library staff position;
o Maintenance and upgrades to 48 city-owned facilities (including the Visual Arts Center, Performing Arts Center, Recreation Center and 60+ Center) and parks;
o One-time business grants to assist prepared food vendors in collecting the new tax; and
o Replacing and purchasing equipment for city operations.
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