New sales tax is in effectPosted: Updated:
It was approved by almost two-thirds of Arizona voters-, and starting Tuesday, consumers pay up on the temporary 1% sales tax hike. Is everyone ready to dig a little deeper?
Business is still booming at the Coffee X-Change on Campbell-- where patrons do not mind shelling out extra pocket change for a cup of joe. The new tax rate in Tucson-- 9.1 percent.
The sales tax increase is expected to bring in more than $960M of new revenue in 2012. And more than $1B in revenue in the final year.
A quick look at the numbers tied to the tax hike approved last month when voters overwhelmingly passed Prop 100.
The statewide rate has gone from 5.6 to 6.6%, an extra penny for each dollar spent for three years.
Add in the local tax and Tucsonans now pay 9.1-percent in sales tax. The estimated $918M in additional revenue this year will go toward education, public safety and health services.