Wednesday, September 11, 2002
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Wednesday, September 11, 2002 |
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PTC Council rebuffs county proposal for 50-50 LOST split
By JOHN
MUNFORD
Peachtree City officials seem to be adamant about their position on the Local Option Sales Tax negotiations with the Fayette County Board of Commissioners. The city wants the LOST distribution formula to remain as is, with the county getting 47.5 percent of the funds and the remainder being split by the cities on a population basis. But the county wants to increase its share to 50 percent, which would cost Peachtree City approximately $400,000 a year. The City Council rejected that proposal with a unanimous vote Thursday night. At a post-election meeting, city representatives wouldn't agree to the 50-50 county proposal "and we left the room," Peachtree City Mayor Steve Brown told council members at last week's meeting. Councilman Steve Rapson said to make up such a $400,000 shortfall would take doubling the city's anticipated 9 percent millage increase. At the original meeting with county and city officials, the general agreement was to leave the distribution formula the same, Brown said. County Commission Chairman Greg Dunn said at the end of the meeting "there may be some minor modifications," Brown said, adding the county's proposed new formula was a surprise. City Attorney Rick Lindsey said if the county and city don't agree on a LOST formula by Dec. 30, none of the governments could collect any LOST funds beginning next year, "until we reached a new agreement with Fayette County." The LOST is the largest source of revenue for Peachtree City. All told, the LOST brings in over $18 million to Fayette County. City officials contend the current formula has benefited the county because of the tremendous growth in Peachtree City since 1993. During that time frame, Peachtree City lost out on $2.6 million in LOST funds it deserved, according to City Manager Jim Basinger. Basinger advocated rejecting the county's proposal for a new LOST formula.
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