Boone County sales tax collectors reminded to change rate - News - Rockford Register Star - Rockford, IL

 

BELVIDERE - The Boone County Treasurer's Office is reminding businesses to adjust their cash registers to reflect the new increased sales tax rate that went into effect Jan. 1.

Otherwise, tax collectors can expect to pay a hefty sum to make up for the difference between rates.

Boone County voters approved in April increasing the sales tax one-percentage point to 7.75 percent to generate a new source of revenue for paying down past school capital debt. The tax hike shifts some of the financial burden from property owners to individuals who purchase items in the county.

It affects all sales tax rates in Boone County except for unprepared food, drugs or titled vehicle purchases.

Early estimates showed that the tax could generate $2.7 million its first fiscal year.

"Based on the calls received by my office (on Jan. 2), it's apparent that many retailers and local accountants are not aware of the change in Boone County's sales

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Here is what the new tax is for: