Why You'll Pay More To Shop In Phoenix In 2016
Phoenix can thank voters for approving a new, higher tax rate. It replaces a 4/10 of a cent tax that was on track to expire.
The new 7/10 rate means consumers will pay 70 cents on a $100 purchase. The tax also applies to rental properties, car rentals and hotel rooms. But if you spend more than $10,000, the sales tax will remain at 4/10 of a cent.
Here's a list of the rate changes for various activities.
Over the next 35 years the city expects to generate $16.7 billion through the tax and another $15 billion through fares, federal grants and other sources. The money will go toward the Transportation 2050 plan, which includes extending light rail, expanding bus service and improving streets.
The Citizen's Transportation Commission was created to provide oversight on the projects and held its first meeting on December 1, 2015.