The Price of Liberty is Eternal Vigilance
More and more taxes!
Submitted by Joe Lolli, 7867 Russell Street Drive, Edisto Island
The P&C's editorial on May 20,2004 reports that our local Charleston County School Board is contemplating following Greenville County's lead in plotting to violate our state's 8% debt cap. The paper's editorial suggests they follow the law and finance their $200 million bond over 25 years, which includes refinancing their existing $128 million construction bonds and funding the "surprise" $61 million short-fall. According to the editorial, if they did this in accordance with the law, the tax increase to a $100,000 homeowner would be $112 each year.
In addition, next November, Charleston County voters will be asked to increase our local option sales tax by 50%, raising an estimated $52 million each year. That's the annual amount that the claimed $1.3 billion sales tax increase would generate over the next 25 years.
Now consider that in Charleston County, there are 2.43 people per household (2000 census), and the average sales price of a home is $258,589 (MLS). So that $112 tax increase on a $100k home is really almost $290 for a typical Charleston County home, or more like $119 per PERSON!
The sales tax advocates claim that 30% of that $52 million sales tax increase "would be paid for by tourists" (from Berkeley and Dorchester counties, no doubt), leaving $36.4 million to be paid for by the 309,969 (2000 census) people in Charleston County. That's over $117 per person. Add that to the school board's tax scheme and the tax increase for every man, woman and child in Charleston County will be around $237, or almost a $1,000 per year for a family of four... each and every year.
And that's just what will be ADDED to your CURRENT tax burden if we vote for their tax increase in November.
I guess you can tell which way I'll be voting.