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Joint Services Committee approves Local Option Sales Tax Distribution Agreement

November 15th, 2022 – 4:30 PM

Press Release –

(Photo from Press Release)

Elected officials from the City of Rome, Floyd County, and the City of Cave Spring held a joint session at the Forum River Center today to approve the intergovernmental agreement for Local Option Sales Tax (LOST). The LOST distribution formula must be revisited every 10 years.

– The agreement stipulates that Rome will receive 45.2% of tax, Floyd County 53%, and Cave Spring 1.8%.

– The City of Rome will take control of the Third Ave parking deck, Town Green, Rotary Plaza, Chief John Ross Memorial Bridge, and the Forum River Center.

– Floyd County will take control of the Joint Law Enforcement Center (after the city finds a new location for the city police), 6th Ave Parking Deck, old Marine Armory building (which will continue to house the Parks and Recreation Department).