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Special Purpose Local Option Sales Tax (SPLOST)
In order to understand SPLOST is it important to understand the other tax forms in this category: Local Option Sales Tax are the taxes levied on the sale of goods and services within Spalding County.There are currently three (3) types of local option sales tax and each one is different in the way it is approved and what it can be used for.
The ultimate goal in a sales tax is to relieve some of the burden on property taxpayers and by virtue of it being a consumption based tax everyone contributes to the tax whether they are a Spalding County citizen or not. Spalding County has a history in the use of two of these taxes: The Local Option Sales Tax (LOST) and the Special Purpose Local Option Sales Tax (SPLOST). The third is set aside strictly for the Board of Education, the Educational Special Purpose Local Option Sales Tax (E-SPLOST) and is used for purposes defined by the Griffin-Spalding Board of Education.
Below is an update of T-SPLOST progress from 2022 and 2023.
The Local Option Sales Tax (LOST) is a critical revenue source for many counties, including Spalding County, where it functions as a joint county-municipal tax. This 1% tax on tangible personal property and related services is voter-approved and managed by the Georgia Department of Revenue. LOST funds are used to supplement the general funds of counties and cities, thereby reducing the need for property tax revenue. Each year, the tax impact must be reflected in property tax bills, showing the reduced millage rate and dollar amount due to LOST revenue.
Distribution of these funds is renegotiated every ten years following the census, based on criteria set by state law. Failure to renegotiate or reach an agreement on distribution leads to the termination of the tax. The successful implementation and continuation of LOST depend on periodic negotiations and consensus between county and municipal governments, ensuring that it helps fund local budgets and reduce property taxes as long as conditions are met.
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