77.981 Rate.
77.981
77.981 Rate. The tax under s. 77.98 is imposed on the sale of taxable products at the rate of 0.25% of the sales price, except that the district, by a vote of a majority of the authorized members of its board of directors, may impose the tax at the rate of 0.5% of the sales price. A majority of the authorized members of the district's board may vote that, if the balance in a special debt service reserve fund of the district is less than the requirement under s. 229.50 (5), the tax rate under this subchapter is 0.5%. The 0.5% rate shall be effective on the next January 1, April 1, July 1 or October 1, and this tax is irrepealable if any bonds issued by the district and secured by the special debt service reserve fund are outstanding.77.981 - ANNOT.
History: 1993 a. 263; 2009 a. 2.