TAXES AND REVENUE SOURCES
Local Taxes included in all sales within the City include:
- Sales Tax (1%)
- Capital Improvements Tax (.50%)
- Park and Stormwater Tax (.50%)
- Additional Sales Tax (.25%)
SOURCES OF REVENUE
The City of Twin Oaks receives revenue from the following sources:
- Utility Gross Receipt Taxes
- Sales Taxes
- Intergovernmental Revenue
- Licensing and Permits
- State, Federal and Local Grants
- Miscellaneous Revenue
Below is a graph representing the breakdown of revenue sources for 2011:
Tax Income: sales/use tax, commercial property tax, etc.
Fee Income: all permits, residential sewer lateral, business/liquor licensing, cell tower lease
Misc. Income: grants, non-construction fees related to commercial plot, etc.
Interest Income: accrued bank interest
Park Income: non-refundable park deposits
At this time, the City is contracted with St. Louis County and we receive no income associated with traffic court fines/fees.