The Penny for Pinellas is a 1 percent sales tax which is dedicated to capital improvement projects in Pinellas County, such as facilities, stormwater improvements, roads, bridges, public safety, and parks. The Penny funds enable the county to continue enhancing the quality of life in the community.
The Penny makes capital projects and improvements possible without having to raise property taxes. Without this funding, it is estimated that property owners would have to pay another 1.4 mills on their countywide property taxes or many public projects would be postponed for years or not done at all. One mill is equal to $1 for every $1,000 of taxable value. An increase of 1.4 mills would equal $140 for a home with a taxable value of $100,000.
Because the Penny is a sales tax, approximately one-third of the total Penny funds are paid for by tourists and seasonal residents.
- The Penny for Pinellas is a 1 percent sales tax in effect since 1990
- Funds roads, bridges, parks, drainage and other capital projects that improve quality of life and enhance the community
- Funds new capital projects without relying on property taxes
- Paid by all who spend money in the county, including tourists, who contribute more than one-third of its revenue
- Benefits the economy by funding critical infrastructure required to attract and retain businesses
- Shared between the county and cities
- Used solely for capital improvement projects
- Collected on the first $5,000 of purchases
- Not collected on groceries and medications