City wants tax money for Market Common Development District - WMBFNews.com, Myrtle Beach/Florence SC, Weather

City wants tax money for Market Common Development District

MYRTLE BEACH, SC (WMBF) - The City of Myrtle Beach is looking to collect more from taxes in the Market Common Area.

City leaders say they are not creating a new tax, they just want to keep some of the taxes paid in the Market Common from admission to movies or events.

This means money going to the state, would be allocated to the City of Myrtle Beach.

"It's not a new tax, you're already paying this admissions tax when you get admitted to an event, there's a 5 percent admissions tax in lieu of a sales tax that goes to Columbia," says City Spokesperson Mark Kruea.

To break it down - $500 in ticket sales results in $25 in admissions taxes for the state.

If plans for an admission tax district is approved, 25 percent or about $6 will be kept by the city to improve that area.

"We're not talking about a great deal of money, I think all four districts combined probably generate about $150,000, but every little bit helps when you're trying to pay for public infrastructure projects," says Kruea.

This money will be used for future public improvements within five miles of what will be the Market Common Development District.

"It would be used for capital projects, it could be parks, it could be water and sewer to serve an industry things that would benefit the district itself," says Kruea. The city council is scheduled to vote on this plan again, on December 3, at the next meeting.

Copyright 2013 WMBF News. All rights reserved.

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