Have you seen the signs for BOOST around Greenwood County? BOOST is the name given to the only referendum on your ballot.
BOOST is a property tax reduction initiative utilized in 32 of the state's 46 counties. Under state law, 71% of money collected from this 1% sales tax must go to reduce your property taxes on any real and personal property assessed on a county and town level. The remaining amount will go to local governments to improve services that Greenwood County deserves.
I invite you to go to boostgreenwood.com and use the calculator to determine how much you will save. A City of Greenwood resident with a $100,000 home and $15,000 vehicle would see a total property tax reduction of $332. For perspective, that resident would have to spend $33,000-plus on retail items yearly for this initiative not to make financial sense. Fortunately, lower income residents are protected, as EBT is exempted from the 1% tax.
Greenwood is the hub of the seven-county Lakelands area. Five of the six counties that surround us enjoy lower property taxes as a result of having passed this referendum. We estimate that around one-third of the money generated will be paid by visitors to Greenwood County.
I ran for mayor to keep Greenwood competitive and give our public safety officers the resources necessary to keep us safe. BOOST is the most conservative way to make that a reality and diversify revenue in a city where nearly 40% of property is tax exempt.