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Deciding it was not prudent to move forward with reductions in gross receipt tax rates (GRT), three ordinances each proposing to repeal a 1/8 percent GRT increment were tabled during the Los Alamos County Council meeting Tuesday night.
It was recommended that the reductions in GRT rates be included in financial planning discussions next year.
Councilor Robert Gibson presented the three ordinances, which addressed a general increment, a county correctional increment and a fire protection increment.
Each increment, if repealed, would have equaled a $2 million reduction in revenue to the county. The county will receive $51 million in GRT revenue for FY 2010.
Reading from a written statement, Gibson said, “Coincident with my putting these ordinances on council’s agenda, the county suddenly realized its GRT revenues for the last fiscal year fell significantly, in fact, by just about the amount that these tax rate changes would cut revenues. The timing of this revelation may or may not have been another coincidence, but I have too much faith in the integrity of Steve Lynne (chief financial officer) to believe he would cook the books themselves.
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