County’s Retail Sales Show Growth
This graph depicts monthly sales tax figures for the last two fiscal years. The green line shows the amount of sales tax that was diverted back to the City of Water Valley during the state’s 2008-2009 fiscal year ending June 30. The red line shows numbers from 2007 – 2008 year.
This graph depicts monthly sales tax figures for the last two fiscal years in Coffeeville and Oakland. The upper portion of the graph shows sales tax diversions in Coffeeville while the lower lines show Oakland figures. The dark line shows the amount of sales tax diverted in the 2008-2009 fiscal year while the lighter line shows 2007-2008 figures.
By Jack Gurner
Reporter
WATER VALLEY –Yalobusha County posted a ten percent increase in retail sales during the last fiscal year, which meant more money from sales tax diversions for all three of the county’s municipalities.
Yalobusha was one of the few counties in Mississippi to show an increase as gross retail sales fell 3.5 percent statewide, a drop of over $1.6 billion from the previous year, according to latest figures from the State Tax Commission.
Gross retail sales in the county for fiscal year 2008-2009 were $68,771,857.70, up by almost $6.5 million over 2007-2008. The fiscal year runs from July 1 through June 30.
The state returns about 18 percent of the seven percent sales tax collected to the municipalities in which they were paid.
Water Valley received $478,801.03 from the state for the fiscal year, an increase of 9.76 percent. Coffeeville received $116,640.69, a 9.88 percent increase. And, Oakland received $49,379.94, a 9.19 percent increase.
All five of the surrounding counties reported a decrease in retail sales. Lafayette was down by 0.39 percent; Calhoun, 2.46 percent; Grenada, 8.17 percent; Tallahatchie, 15.45 percent; and Panola, 9.10 percent.
