New 1% tax now in place at Shreveport's Mall St. Vincent - KSLA News 12 Shreveport, Louisiana News Weather & Sports

New 1% tax now in place at Shreveport's Mall St. Vincent

SHREVEPORT, LA (KSLA) -

Unless shoppers at Shreveport's Mall St. Vincent took a close look at their receipts, they may not have noticed a one-percent increase in the sales tax they paid.

That one-percent sales tax, which started today, will eventually help pay for a multi-million dollar renovation of Mall St. Vincent.

In April, the Shreveport City Council approved the tax increase.  The plan is for the mall's owner, Rouse Properties, to spend $16.5 million on a major renovation, including updates such as new storefronts and landscaping. Rouse Properties will pay for the renovations up-front. The extra tax money will reimbursement the company.

Currently, the tax rate in Shreveport is 8.6%, divided up between the city, the parish and the state. The extra one-percent means for every $10 you spend, you'll pay an extra 10 cents in taxes.

However, you won't pay that extra one-percent if you shop at either Dillard's or Sears. Those stores own their own properties.

 Back in April, Shreveport Mayor Cedric Glover said the choice to support the project is completely up to the shoppers.

"That's the great thing.  Shoppers will be able to decide for themselves, because this is something that is completely voluntary, it's either a place you shop and you factor it into your buying decision or you go someplace else," he said.

The new tax will be on the books for the next 20 years.

Copyright KSLA 2013. All Rights Reserved.

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