LITTLE ROCK, Ark. – Little Rock Mayor Frank Scott Jr. released more information Wednesday on the sales tax initiative first introduced in his State of the City address.
The proposed “Rebuild the Rock Penny Tax Initiative” would permanently increase the city sales tax from 9 percent to 9.625 percent, raising an estimated $53 million annually.
Scott claims most of the funding would go to things like improvements to War Memorial Park and a new senior center, with other projects including a college savings plan for Little Rock Public Schools students and infrastructure investments.
Reallocations would come every 10 years with new projects being introduced. Scott made sure to mention this funding came in addition to the city budget.