County sales tax receipts increased in 3rd quarter
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Logan County’s sales tax receipts rose in the third quarter of the year, according to County Treasurer Mickey Oates. The county received $301,394 in the quarter that ended on Sept. 30.
It’s the second straight quarter of the year in which sales tax receipts have improved. In the first quarter, the county collected $256,754. In the second quarter, the county collected $261,266.
“We did very well in the third quarter,” Oates said. “The local economy is improving.”
Logan County collects a 1 percent sales tax. Proceeds are spilt between the county and taxing entities in the county, such as cities and towns. Logan County gets 56 percent of receipts from the 1 percent tax.
Collections in the third quarter were also above collections for the third quarter of 2012. In 2012, the county got $242,958 in the third quarter, which is $58,436 below collections for the third quarter of this year. Collections this year are also outpacing the amount of sales tax revenue Oates projected would be collected. For the year, actual collections are $76,917 above projections. Projections are done late in the year and used to formulate a county budget.
So far this year, the county has collected $819,417 in sales taxes. Last year, the county collected $950,950. When the economy is running smoothly, the county normally collects about $1 million in sales taxes. The last time the county’s sales tax revenue topped $1 million was in 2011.
“If things keep going as they are, we’ll be at $1 million, but no one knows for sure,” Oates said.
Here's a breakdown of collections for each month of the third quarter compared to the same month in 2012:
• July: In July, the county collected $94,813, compared to $ 76,083 in July, 2012.
• August: In August, the county collected $107,910, compared to $85,785 in August, 2012.
• September: In September, the county collected $98,670, compared to $81,088 in September, 2012.