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Survey results from large response (5/13/02)SURVEY RESULTS 5/13/02 Package A. Sales Taxes: Existing State sales tax is 4.9%. Proposed raise to 5.3% June 1 of 2002, down to 5.2% June 1 of 2004, and to 5% June 1, 2005. Raises $152.9 million first year, dropping to $123 million for Fiscal Year 2005, and to $43 million thereafter as the rate drops to 5%. Package B. Reinstate the Class C Inheritance tax. on only non-lineal heirs (cousins, nieces, etc. and non-family members): Raises $15 million in FY 2003, $20 million thereafter.
Package D. Income tax. Current rate is about 6.24% on a typical Leawood family. The proposal raises and creates new income tax brackets. The current 6.24% would stop at annual income of $60,000. From $60,000 to $150,000 the rate would be 6.75%. Between $150,000 to $250,000 the rate would be 7.5% and over $250,000 the rate would be 8%. Corporate rates would also increase. Raises $350M to $500M each year. Package E. Real Estate Taxes. Would you support an increase of $300/year in real estate taxes on your house? .
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