MADISON, Ala. (WAFF) – The Madison City Council voted 6-1 Monday to annex the 23-acre parcel that includes the Costco on Highway 72. The decision, which becomes official on Feb. 18, brings new tax revenue and changes for shoppers.
Because of the annexation, Madison will now receive:
- Property taxes
- Liquor taxes
- Gas taxes
- Sales taxes equal to 0.5% of taxable sales generated by the property
Purchases at Costco will now be subject to a 9% sales tax — an increase of 1.5 percentage points for customers at the store.
The Madison Board of Education will receive a share of property tax revenue collected from the annexed land…