We’re a ‘Be Local, Buy Local’ kind of community!
When our Palm Coast community shops locally, businesses thrive, jobs are created, and we generate money for the amenities and projects we cherish. That’s because a portion of the sales tax collected returns back to Palm Coast to fund projects such as the new Community Center and Holland Park renovations, repave roads, install street lights, build trails and keep our property taxes down.
Though it may sound like just pennies on the dollar, last year the City received $7.6 million from sales taxes. That’s the power of ‘Buying Local!’
Local Multiplier Effect – How it Works
Buying products at local stores keeps the money circulating closer to where you spend it – that’s called the Local Multiplier Effect! This creates a ripple effect as those businesses and their employees in turn spend money locally. For every $100 spent locally about $68 is returned to the local economy.
Did you know?
If every resident of Palm Coast spent $25 at a local business on any given day, it would infuse $1.462 million into our local economy!
How Sales Taxes Return to Us
Our community receives back a portion of 3 different sales taxes collected when we purchase goods and services locally:
- Half-Cent Sales Tax – goes to the general fund to mitigate the need for property tax increases
- Local Option Fuel Tax – supports street improvements including resurfacing, street lights and sidewalks
- Small County Surtax – helps fun capital projects such as renovations and new construction of public facilities
When you eat at restaurants, shop in stores and buy your gas in Palm Coast, a portion of the sales tax collected is returned to our community! This is a great way for us to fund new parks, street improvements, sidewalks and more – without taking on debt.
That’s the power of shopping local – spread the word!