Quote:
Originally Posted by ByeByeBaby
Alberta's August retail sales were $6 billion; assuming that's 1/12 of the annual, that's $72 billion per year. The greater Calgary region has 40% of the provincial personal income; the city proper is about 85% of the population in that region. A 0.25% sales tax here would produce roughly $5M per month, or $60M per year.
Speaking from total ignorance about the SLC plan, my assumption would be that they passed a sales tax, then used bonds backed implicitly or explicitly by this new revenue source to get the money to build the transit projects.
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I did some basic research. Utah has a base 4.7% sales tax and then all sorts of additional tax options for counties/municipalities to get revenue for transit, culturals, municipal, county use, etc.
Salt Lake County has 0.8% sales tax going towards funding transportation. 0.25% for County Transportation, 0.3% for Mass Transit, and the 0.25% is an Additional Mass Transit Tax (which I believe what was being referred to in the Atlantic Cities post about TRAX in SLC).
So in theory the bulk of 0.8% of the 6.85% sales tax is going to fund LRT/ commuter rail.
and yes the UTA (Utah Transit) used bonds backed by the revenue to get the money to build the transit projects (although I'm unsure of exactly how it works).
Like another forumer said, if a city charter could get passed maybe Calgary could get a temporary mass transit sales tax (say between 0.25-1%) passed and issue bonds on these projected revenues as one avenue to speed up construction of LRT.
Lord knows at the current rate of growth ~
30,000 ppl/yr Calgary seriously needs to start the NC and SE LRT lines as soon as humanly possible, unless Calgarians want the Deerfoot to turn into something reminiscent of the Greater Toronto parking lot known as the 401