Valley Sales Tax Remains Steady, Other Municipalities Record Decreases

Staff Report

    The City of Water Valley’s most recent check for sales taxes increased just over one percent over the check received last January. Sales tax figures in other municipalities in Yalobusha were down, with Coffeeville recording an three percent decrease while Oakland recorded a 14 percent decrease    

    The state returns approximately 18 percent of the seven percent collected in sales tax to the municipalities in which they were paid.

    The fiscal year-to-date totals for Water Valley are up six percent compared to the first half of the 2008-2009 fiscal year. Total sales tax diverted to the town in the first half of this fiscal year is $287,954.32 compared to the previous year’s $271,950.50. The fiscal year begins July 1.

    Coffeeville’s diversion check of $10,279.02 in January was $318.80 less than the previous year.

    Oakland’s portion of sales tax collected decreased $628.64 this January compared to the same month a year ago.  The January 2008 amount received in Oakland was $3,728.78.

    Other nearby towns showing decreases for January, 2009, when compared to January 2008, include Batesville, down seven percent from $361,780 to $336,518;  Bruce, down 18 percent from $44,817 to $36,783; Calhoun City, down 2.4 percent from $28,461 to $27,787; Charleston, down 6.3 percent from $31,316 to $29,337; Courtland, down 52 percent from $1,926 to $925; Grenada, down 8.7 percent from $390,852 to $356,806; Oxford, down three percent from $551,071 to $534,681; Taylor, down 20 percent from $1,738 to $1,392 and Tupelo, down eight percent from $1,879,104 to $1,727,616.