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Central Marysville Annexation population count tops 20,000
MARYSVILLE — The city of Marysville learned Feb. 9 that the State Office of Financial Management had certified the population of the Central Marysville Annexation to be 20,048. That number is important as it means that the city will receive a two-tenths of 1 percent sales tax rebate.
There was some question as to what the final count would be. "The original estimate was 19,000 but that was one and a half years ago," said Mayor Dennis Kendall. "We knew it was going to be real close, either over or under."
The population count is important as it determines how much sales tax rebate the city would qualify for. For the first 10,000 people the city would receive an additional one-tenth of 1 percent in sales tax rebate. With the annexation exceeding 20,000 people, the city qualifies for two-tenths of 1 percent in sales tax rebate.
Kendall estimated that for each one-tenth of a percent in sales tax rebate the city would receive $750,000 meaning that by surpassing the 20,000 mark, the city will receive an additional $1.5 million.
"And remember, that will be for 10 years," said Kendall. "It is based on all sales tax that is collected. And as the economy improves and retail continues to grow, that number will be ever increasing for the next 10 years. That's why 'Shop Local' is so important now, more so than ever. For every dollar spent here, more of it is staying in the community."
Kendall pointed out that this year the city won't start receiving the sales tax rebate until July.