Posted: Oct 14, 2010 3:19 PM by Kate Mundy
Updated: Oct 14, 2010 3:36 PM
A sales tax hike is on the way for those who shop the US-90 corridor in Iberia Parish.
The Iberia Council voted to levy a one-percent sales tax on the economic development district. It did not need a vote of the people because it does not include residential properties.
The tax is projected to raise 824-thousand dollars annually. The maximum amount of bond proceeds would be 7.3 million dollars.
The tax has to be used for infrastructure development in the district along US-90 corridor. That includes road, drainage,sewage and water projects for industries.
The 8.5 percent tax will go into effect January first, 2011. Until then, businesses in the economic development district will continue to charge a 7.5 percent sales tax.