The election on November 3, 2015 will give Sherman voters the opportunity to renew the Sherman Street Sales Tax Initiative which provides more than $1 million each year to fix Sherman’s roads. The tax is just 1/8 of a cent on purchases but it provides a full third of the city’s budget for street repairs. Since Sherman’s retail areas are a regional shopping center, more than half of the tax is paid for by those who reside outside the City of Sherman.
Renewal of the Sherman Street Sales Tax Initiative will provide funding for a major expansion of Loy lake Road, easing traffic headaches through the city’s major retail hub. Expansion of Loy Lake Road is expected to begin in early 2016.
In addition to widening Loy Lake Road between U.S. Highway 75 and U.S. Highway 82 from two lanes to four, the City of Sherman has more than 60 extra miles of road repairs planned if the tax is renewed on November 3, 2015.
The Sherman Street Sales Tax Initiative has funded the repair of more than 150 miles of streets, including several major thoroughfares through town.