Buckeye residents could be paying double-digit sales taxes soonPosted: Updated:
BUCKEYE -- City leaders in Buckeye are facing a budget crisis so big, it could force them to raise taxes to a whopping 10.3 percent by the end of the year.
The Buckeye City Council is meeting tonight to consider a tax increase meant to help deal with a projected $8.5 million shortfall though fiscal 2010-2011.
The measure involves a four-year hike.
If Proposition 100, the 1-cent state sales tax that's on the ballot later this month, passes, Buckeye residents could end up paying some of the highest sales taxes in the state.
The tax increase is expected to generate an addition $2 million for a town that's struggling so much it has slashed staff by the dozens over the past year.
Buckeye's sales tax revenue has fallen steadily since 2007. Then it was $21.1 million. In 2010, that number is projected to be $10 million -- less than half what it was just three years ago.
If the council passes the increase, they say it will go directly toward public safety.