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Merchants capital tax rate reduced for local businesses

Mountain Media, LLC by Mountain Media, LLC
April 22, 2024
in Local Stories
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Bonnie Cranmer

Contributing writer

 

The Craig County Board of Supervisors met on Thursday, April 18 to review the budget for 2024-25. This meeting was a continuation of the April 4 Budget Work Session. County Administrator Dan Collins provided details of the budget in a presentation for the Board. The Craig County Public Schools portion of the budget had some changes, worked through with Superintendent Wayne Huff and Collins.

 

Following the presentation, the Board opened the Public Hearing on the tax rates set for 2024-25. The Personal Property tax has been set to $3.50 per $100 value. The Machinery and Tools tax has been set to $3.50 of $100 value. The Real Estate tax rate has been set to 52 cents per $100 value. There were no public comments.

 

Jordan Labiosa, representing the Craig City District, raised an issue about the Merchants Capital tax rate of $3.50 per $100 value. The tax is on inventory, unfairly taxing businesses which carry stock on the shelves. A service business, such as a lawyer or real estate agent, does not have the same expense to do business in Craig County. 

 

Labiosa made the motion to reduce the Merchants Capital tax rate in half, to $1.75 per $100. He referred to the neighboring counties BPOL (Business, Professional and Occupational License) Tax which requires a tax on overall business revenue, instituting business licenses and would be a further burden to do business in Craig County. The change was approved.

 

In old business, the Board reviewed the options for funding the UHF P25 Conventional Simulcast Radio System. Collins stated that the county is still seeking additional grant funds to use for the system expenses. The next Board of Supervisors meeting is scheduled for Thursday, May 2 at 6 p.m.

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