Stephens Co. Commission Approves LOST Agreement
Stephens County commissioners sign off on the new Local Option Sales Tax distribution agreement.
The county commission unanimously approved the new 10-year agreement at its meeting Tuesday.
Under the new agreement, Stephens County, the city of Toccoa, and the city of Martin would all receive the same percentage of revenue from the already in place one-cent Local Option Sales Tax, or LOST, as under the agreement that has been in place for the last 10 years.
The agreement calls for Stephens County to receive 63.51 percent of the LOST revenue, while the city of Toccoa would receive 35.26 percent and the town of Martin would receive 1.23 percent.
Stephens County Commission Chairman Dean Scarborough said that while the county and everyone else came in wanting more, he is satisfied with the new agreement.
“Obviously, both of us want more of it, so we build our negotiating points based on facts and of course, all of us have different facts to base that on and we all use the ones that are more favorable to our position and you just start from there,” said Scarborough. “It was an excellent negotiation I think on both parts. We were always very cordial and civil. I appreciate the mayors and the city manager and the way they conducted themselves and I think on our part we did the best we could.”
LOST revenues go into the general fund to support the government’s general operating revenues.
Toccoa City Commissioners unanimously approved the same agreement at their meeting on Monday.
Martin commissioners must also sign off on the agreement for it to take effect.