What is a local option sales tax?

A local option sales tax (L.O.S.T.) is simply a sales tax that is collected within the geographic boundaries of a city or county. Local option sales taxes apply to the same items and services as the general state sales tax. Items exempt from regular state sales tax are also exempt from the local option sales tax including many essential items such as groceries, prescription and over-the-counter medications, baby products and clothing.  Complete list of non-taxable items from Minnesota Department of Revenue.

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1. What is a local option sales tax?
2. What can receipt of local option sales tax funds be used for?
3. Can any city create a local option sales tax?
4. What does Monticello want to fund using a sales tax?
5. How much would the local option sales tax be and how long would it be in effect?
6. What happens if the local option sales tax is not supported by voters?
7. What is the estimated timeline for the local option sales tax?