GREENVILLE, N.C. – The most recent proposed changes to how sales tax is distributed could lead to millions of dollars coming into the East.
Currently, 75 percent of sales tax on an item goes back to the county where it was bought while 25 percent is distributed to all counties based on population.
This year’s senate budget will upend that with 80 percent going to all counties based on population and 20 percent to the county of origin.
Pitt County deputy manager and chief financial officer Duane Holder said projections show all of Pitt including its 10 cities and towns could see an additional $5 million each year from 2016 through 2020.
“Those funds would primarily be going to education and public safety primarily,” Holder said. “Those are areas where we always have more need than we’re able to supply.”
He said some larger counties will actually lose money including Wake and Mecklenburg.
Senators are scheduled to pass its budget Thursday.
Both the senate and house versions are different so leaders from both sides are expected to meet behind closed doors to work out a deal.