7 years, 1 month ago by Scott Hardy
I-72 Corridor Transportation Development District says tax collection will stop July 31
Residents in four Northeast Missouri counties will stop paying a half-cent sales tax to fund expanding part of an interstate highway this July.
The Interstate 72 Corridor Transportation Development District announced Wednesday that it plans to stop collecting the tax in Marion, Monroe, Shelby and Macon counties on July 31st. That tax has been collected since 2006 to help pay for a 52-mile expansion project of U.S. Highway 36 from Hannibal west to Macon. In a statement, Executive Director Larry Craig says the District has enough money to pay back a 34 million dollar loan from the state of Missouri, used to pay for a portion of the Highway 36 expansion project. Craig notes that the loan will be paid off some three and a half years earlier than expected.
Craig also says that the District's Board will ask voters to abolish the District, which it expects could happen in 2018.
