WIS-TV By Jack Kuenzie, Reporter
RICHLAND COUNTY, SC (WIS) -Threats by the Department of Revenue to shut off money generated from the Penny Tax could have a severe financial impact, according to the Richland County Treasurer.
The DOR has recently threatened to withhold Penny Tax revenues unless the county looks into the use of penny tax money.
A lawsuit is challenging DOR’s authority to demand changes or withhold the tax distributions.
Treasurer David Adams said any action to hold back the money would give the county a “black eye” among lending institutions, increase the cost of borrowing, and possibly damage the trust between the county and taxpayers.
“It would add tension to the relationship the county has with taxpayers and understandably so,” Adams said. “If you came to me and thought I was going to be able to take care of certain services for you based on an agreement, we already had and then I tell you that's now going to cost more you're probably going to be upset with the county that your bill's going up.”
DOR issued a statement following the filing of the lawsuit saying they initiated the matter to ensure accountability and that they remain committed to protecting the public.
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