City of Myrtle Beach looking to collect almost $13 million from state in tax revenues

MYRTLE BEACH, S.C. (WBTW) — Thousands of dollars have been going into funding for projects throughout the city of Myrtle Beach for several years now — which is why they are now requesting more funds from the state.

This is a staff request that they submit each year, and a representative with the city’s tax advisory committee said the estimated revenues they’re looking to collect this year from the state is almost $13 million.

The representative said last year, the tax advisory committee requests were understated and they ended up collecting more.

City officials said that could happen again this year. They said once the funds go through the states’ mandates, more than $8.3 million will be available to distribute.

The city is asking for all the funds, but knows there’s not enough funds to accommodate all application requests. The representative also discussed the debt service for a project the city has been funding for more than 10 years.

“The beach nourishment, we had some storm damage back in 2007 from a hurricane. We partnered with the Army Corps of Engineers and the state. We had issued a general obligation bond,” the representative said. “Again, we came to you and put you on notice that we would be coming each year for the annual debt service. For this in particular bond of debt, and this year we’re asking for $133,794 to fund the annual debt service.”

The representative said the funding requests are made up of several project components but as a total, the city is requesting nearly $12 million.