The City Manager of Kansas City and Finance Office presented its proposal for an $800 million bond issue.
The funds will be used to repair, replace, rebuild and maintain existing infrastructure. City leaders are suggesting allocating $40 million a year over 20 years.
City leaders also discussed extending the current one percent sales tax for capital improvements. City leaders say this tax generates $70 million a year.
For the taxpayer that owns a $100,000 home and $15,000 car, that translates to a tax increase of $6 for year one, and increases to $120 by year 20.
City leaders will discuss the proposal again Dec. 15.
See the full presentation below:
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Kevin Holmes can be reached at Kevin.Holmes@KSHB.com
