Atlanta and College Park sign tax deal in final hours | www.ajc.com

Atlanta Mayor Kasim Reed has signed on to a deal divvying up local option sales tax revenue with Fulton County and its cities, averting the risk of losing $240 million in annual revenue countywide.

Atlanta and College Park were the holdouts in the deal backed by Fulton County and 12 other cities, a plan that reduces Atlanta’s annual share by $5.8 million per year over the 10-year life of the tax. The city’s annual share of the tax revenue now will be $96 million.

Leaders from north Fulton played a large role in the plan, which gives Northside cities millions in new revenue to help fund their services and keep taxes down.

via Atlanta and College Park sign tax deal in final hours | www.ajc.com.