Motor vehicles sales tax adjustment. |
03LSO-0475.L1 |
FISCAL NOTE (HB0186)
|
FY 2005 |
FY 2006 |
|
NON-ADMINISTRATIVE IMPACT |
|
|
|
Anticipated Revenue Decrease: |
|
|
|
GENERAL FUND |
1,088,000 |
1,121,000 |
1,155,000 |
LOCAL SOURCES FUND |
788,000 |
812,000 |
836,000 |
Source of revenue decrease:
Motor vehicle sales and use taxes
Assumptions:
An average of approximately 25 percent of revenue collected by county treasurers is due to non-dealer transactions.
It is estimated that 20 percent of non-dealer transactions would qualify for the tax adjustment.
Estimated impacts are based on a projected 3 percent growth rate.
Prepared by: Dean Temte, LSO Phone: 777-7881
(Information provided by Dan Noble, Dept. of Revenue; phone 777-5220)