EDMOND, Okla. (KFOR) – Residents in Edmond will soon be heading to the polls to determine the future of land near a popular park.
On Oct. 12, Edmond residents will vote on a temporary 0.25% sales tax.
Officials say the temporary sales tax would be used to purchase 22 acres of land adjacent to Hafer Park.
The land just south of Hafer Park is privately owned and the owners are looking to develop the site with a mixture of retail and residential uses. Since there has been opposition from the public, city officials proposed purchasing the land to avoid further contention.
The tentative purchase price for the land is $3,998,000 plus closing costs.
If the sales tax is approved, it would change Edmond’s sales tax rate from 8.25% to 8.50% from January 1, 2022 to December 31, 2022.
The sales tax rate would return to 8.25% on January 1, 2023.
City officials say the increased tax rate would likely generate $5 million. Any money received in excess of the purchase price and closing costs may be used to pay for improvements to the land.
City leaders say if the measure doesn’t pass, the tax rate will stay the same and it will be up to the landowner to develop the land the way they want.