Stater Bro's Gross SalesNumber from Jack Brown |
| $800,000 | Tax Rate 8.75 percent |
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To find base sales of existing store and new take 22% off figure. 22% increase projected in City Council Packet.
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Minus $176,000 | Calculating Backwards you end up with not such a great or impressive number for "Increase in Tax Revenue to Grand Terrace". |
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Existing Store Taxable Sales |
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$624,000 |
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New Sales Taxes to GT per year |
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$176,000 x 8.25 percent Gross |
$14,520.00 net x 1.25 percent to GT |
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New annual sales tax to GT Less than the stipend for One City Council Member for One Month. | $181.50 per YEAR And Stater's is asking Taxpayers to kick in 900,000.00 because the Sales Tax Revenue will Increase? |
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