Impact of the Removal of Taxes
on Motor Vehicles
We have done an estimate of the calculation of the impact of the removal of
taxes on motor vehicles. Just as the School system discussed the dramatic
impact on their revenues, we will also suffer a similar impact. Since we are
currently at the 9 mil cap, there is no means to recover monies thru a tax
increase in the General Fund. The other funds do not have the same limitations,
but will receive less revenue as indicated at the chart below. At this point
in time, I think there is some discussion for the state to make up the
difference to municipalities, but we don't have any information on how that
would be accomplished.
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