How Will We Pay for it?
A team of city staff, consultants, steering committee members, and the city council have been considering the future of our recreation facilities for more than four years. And much like you do with your own finances, we have been putting money aside every year in our Capital Improvement Program (CIP) knowing that something must be done with the aging recreation facilities in our community. Years of careful planning combined with increased sales tax revenues from new economic development in town have created an opportunity for us to build a new facility for our community.
Quarter-cent sales tax = A quarter for every $100.
Currently, consumers in Merriam pay 9.225 percent sales tax on retail purchases and the addition of a quarter-cent sales tax rate would make our rate 9.475 percent, which is still lower than many of our neighboring communities.
How does a quarter-cent sales tax affect you?
Utilizing sales-tax revenue means Merriam residents pay less
The City will use $6 million already saved in the CIP and borrow $24 million in bonds to be repaid through the sales tax. For every dollar of sales tax we collect in Merriam, $0.82 comes from people outside of our community. This means that Merriam residents would get the benefit of a $30 million new community center for a price tag of $5.4 million.