Parks Sustainable Funding Ballot Initiative Moves to Full Council
Last Tuesday, the Budget, Finance, and Economic Development Committee unanimously voted to move the Parks Sustainable Funding ballot initiative to the full Council. Nine out of the 15 Councilmembers must vote to place the initiative on the November general election ballot.
If passed by voters in November, the Parks Sustainable Funding tax initiative would collect an additional 2.25 cents per $100 on all taxable property to support a dedicated Parks Capital Fund.
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This Fund would be used exclusively on capital improvements for parks, starting with projects outlined in the Parks Master Plan.
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If passed, the referendum would raise roughly $8 million annually for the Parks Capital Fund. The average Lexington homeowner would pay roughly $53 per year.
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The 2018 Parks Master Plan identified approximately $100 million worth of projects in Lexington’s parks.
In April 9th’s Council Work Session, the full Council will vote again on whether to move the measure forward. If passed out of Work Session, the initiative could be up for First Reading as early as April 11th.
Council passing this initiative would not mean that the new property tax is passed; rather, they will just be placing the question of whether or not to create a new property tax on the November general election ballot. Lexington voters will have the final say on if this proposal passes or not.
Republished from CivicLex.
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