BUCKHANNON — Mayor Rick Edwards, who recently announced that he will be running for Mayor in 2016, issued a statement pertaining to the present Business and Occupation Tax, along with creating a sales tax.
“Business and Occupancy Tax. (B&O) This is one of 2 primary resident and business taxes to fund our city. The other tax is Ad- Velorum, or property tax,” Edwards stated. “These 2 taxes fund majority of the cities General Fund. General Fund is used for salaries, insurance, streets, lighting, and anything fee’s don’t cover. Put as simply as possible.”
“99% of all WV municipalities that have this tax, have a Comprehensive B&O,” the Mayor exclaimed. “No exemptions on particular businesses. We currently have 3 exemptions. Rentals, lottery, and professional services. We also have a One Million Dollar exemption to qualify to pay the tax. You make less than $1,000,000.00, you don’t pay. Put as simply as possible.”
“I would support a .75% Sales Tax to replace B&O,” Edwards purposed. “A much more efficient, fair, and beneficial tax process.”
“City Councilman Thomas has discussed the ‘fairness’ of the tax for many years,” he said. “The previous leaders did not move on the discussion.”
If implemented by the City Council, a sales tax would place a tax on goods and services, raising the cost of items at local stores, such as Walmart.
Edwards’ plan to implement a sales tax has been approved by Councilwoman Mary Albaugh, Councilwoman Robyn Simons and Councilman Dave Thomas. Councilman Ron Pugh has expressed that he would support an expansion of the present B&O tax, which would include all companies, regardless of their annual revenue.