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March 16, 2010

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Sales tax revenue still declining

Published: 8:46 AM, 11/17/2009 Last updated: 8:50 AM, 11/17/2009
 

Author: Tommy Millsaps

After a slight increase two months ago, local option sales tax revenue countywide slid back again for the second month in a row and was more in line with the trend of decline that has been ongoing for more than a year.

The October report released by the Tennessee Department of Revenue showed the county and its four cities as a whole took in $623,215 in net collections during the month of September.
That figure is down $24,810 or 3.8 percent from the $648,025 brought in during the same month a year ago.

Madisonville took in $22,815 for the month, however that figure was down from the $237,668 brought in during September 2008.
Tellico Plains collected $39,639 for the month, but that total was down from the $43,037 collected for the same month a year ago.
Vonore's $64,718 in local option sales tax revenue was down from $67,804 during the same month last year.
The total for businesses outside any city limits was $117,068, which was down from $136,176 a year ago.

Sweetwater bucked the trend of decline.
Sweetwater's $179,975 was up more than $16,635 from the same month a year ago.
City officials could not pinpoint an exact reason for Sweetwater's good news but were thankful for it nonetheless.

Local option sales tax comes from the 2.25 local tax rate on goods and services tacked onto the state rate of 7 percent (6 percent for food items).

tommy.millsaps@advocateanddemocrat.com | 337-7101

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