The Town of West Union will be holding a Public Hearing and First Reading of the B & O Tax Ordinance on Monday, August 24, 2020 at 6:00pm at the Lion’s Club.
B & O Tax is a tax that is levied upon businesses, is commonly known as Business and Occupation Tax and is based on the sales made by the in-town businesses.
Researching the income estimated by the Town, for the Fiscal Year 20/21, the Town has budgeted $229, 968 as income with $81,968 to be collected in Property Tax, (found on property tax tickets as being “Municipal Current”).
The Municipal Current tax is an addition to the County Tax that in Town property owners pay. (Those living outside of the Town limits are not assessed this tax.)
Other income inlcudes taxes on Utilities, Coal Severance Tax, Oil and Gas Severance Tax, Gaming income, IRP Fees, to mention a few, with the Class IV (business) property rates being $50 per $100 with residential being $25 per $100.
The public is welcome to attend and voice their opinions.