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52%  
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  • Governor Warner Signs Bill Cutting Grocery Tax

    03/23/2005 2:48:44 AM PST · by R. Scott · 51 replies · 723+ views
    WTKR TV ^ | March 22, 2005
    Governor Mark Warner signed legislation Tuesday reducing the sales tax on groceries by one-and-a-half cents on the dollar. The Department of Taxation says the reduction will save a typical family of four with a household income of 60,000 dollars about 83 dollars a year. Beginning July first, the tax on groceries will go from four percent to two-and-a-half percent. Two percent goes to localities and a half-percent to the state's highway fund. The tax was scheduled to be slashed in half-percent increments over three years, but a thriving economy enabled the legislature to speed up the reduction.