Sales Tax Collections Edge Up In County’s Three Municipalities
By David Howell
Although modest, Yalobusha municipalities each have recorded a tax collection increase for the first four months of the current fiscal year that began July 1.
Water Valley has recorded the largest percent increase, at 10 percent, compared to the first four months of the previous fiscal year. The city received $170,120.20 during July, August, September and October, compared to $155,133.47 during the same four months last year. The state returns approximately 18 percent of the seven percent collected in sales tax to the municipalities in which they were paid.
Coffeeville recorded a five percent increase in the same four-month period, compared to the previous year. Just over $41,880 was diverted by to the town’s coffers this year, compared to $39,819 last year.
In Oakland, there was a four percent increase with the town receiving $16,913 this year, compared to $16,265 last year.
Statewide, the Mississippi State Tax Commission is reporting that state sales tax collections taken from all municipalities is down a slight .087 percent during the first four months of the 2008-2009 fiscal year. The state collected $131,577,479 this year, compared to $131,692,336.50 last year.
Other nearby municipalities recording an increase in the first four months of the fiscal year include Oxford, up a half a percent; Tupelo, up four-tenths of a percent; Calhoun City, up almost 10 percent; and Taylor, up a whopping 39 percent.
Other neighboring municipalities recording a decrease during the same time period include Batesville, down 1.17 percent percent; Bruce, down four percent; Grenada, down a half a percent; and Charleston, down 1.7 percent.
Sales tax figures provided by the Mississippi State Tax Commission come from businesses who pay their share in the month following collections and are reported the following month. These are the latest figures published from reports dated October.