Fulton County Releases LOST Fact Sheet
Fulton County Releases LOST Fact Sheet
September 19, 2022
Board of Commissioners will receive update on September 21
Fulton County is releasing a new fact sheet for residents to better understand the negotiations that are underway between Fulton County and its 15 cities related to the distribution of Local Option Sales Tax (LOST).
In addition to the fact sheet, the Board of Commissioners will hear an update about the LOST negotiations during their meeting on Wednesday, September 21. A new web page at www.fultoncountyga.gov/LOST will allow residents to download the new fact sheet and learn more about LOST.
Georgia law allows local governments to collect Local Option Sales Taxes (LOST) to offset property taxes. Every 10 years, counties and cities negotiate how funds will be divided for the next decade.
Because Fulton County is almost fully incorporated, almost every resident receives services from both their city government AND the county. The county and cities began negotiations in July regarding LOST distribution for the next decade. A final agreement must be reached by December 30, 2022 or the tax will expire.
“Fulton County is facing a number of urgent funding needs,” said Fulton County Chairman Robb Pitts. “We understand that the cities also have needs. As leaders, we have to come to an agreement about the best distribution model to meet our citizens’ needs. It’s as simple as that.”
In addition to the fact sheet, the Board of Commissioners will hear an update about the LOST negotiations during their meeting on Wednesday, September 21. A new web page at www.fultoncountyga.gov/LOST will allow residents to download the new fact sheet and learn more about LOST.
Georgia law allows local governments to collect Local Option Sales Taxes (LOST) to offset property taxes. Every 10 years, counties and cities negotiate how funds will be divided for the next decade.
Because Fulton County is almost fully incorporated, almost every resident receives services from both their city government AND the county. The county and cities began negotiations in July regarding LOST distribution for the next decade. A final agreement must be reached by December 30, 2022 or the tax will expire.
“Fulton County is facing a number of urgent funding needs,” said Fulton County Chairman Robb Pitts. “We understand that the cities also have needs. As leaders, we have to come to an agreement about the best distribution model to meet our citizens’ needs. It’s as simple as that.”