The New Hanover County Board of Commissioners will consider an interlocal agreement between the county and the New Hanover County Board of Education that would help get refunds from the state sales tax to put toward capital projects.
Currently the school board can request a refund of the local sales tax, which is 2.25 percent, but not the state sales tax, which is 4.75 percent. The county can request refunds of both. In order to enable the schools to also obtain that money, the school board will lease some of their property to New Hanover County, which has the authority to ask for reimbursement. This arrangement is modeled after one used by Wake County and the Wake County Board of Education and has been deemed acceptable by the state’s Department of Revenue.
The recouped money will be designated as supplemental funding for school capital building and renovation projects that the County approves. The funds may also be used to pay debts on bonds financing these projects if county commissioners agree to that.
The New Hanover County Board of Education approved the agreement during their Oct. 6 meeting. County commissioners will discuss it during their Oct. 19 meeting, which starts at 3:30 p.m. in the Assembly room at the New Hanover County Historic Courthouse. See the full agenda summary here.