Sales tax revenues went down a little
Custom Search 2
Sales tax revenues in August took a dip but for the year, revenues are coming in slightly ahead of 2013 levels, according to Logan County Treasurer Mickey Oates.
Sales tax revenues in August were $94,655.98 compared to $107,910.63 last August and $97,295.88 in July.
For the year, Logan County has brought in $725,089 in sales tax revenue compared to $720,746.74 through August of 2013.
Last year, Logan County collected $1.8 million in sales tax revenues, the highest amount collected in four years. The county has budgeted a little over $1 million for sales tax revenue this year. In fact, revenues have come in above projections in every month this year except June when revenues were $1,324 below projections. For four months this year, sales tax revenues have been more than $10,000 above projections.
Sales tax revenues for the third quarter (June-August) totaled $273,127.76, which is down from the same quarter last year when revenues totalled $289,625.57.
Sales tax revenue is considered an indicator of the overall economy and this year have come in between $81,000 and $98,000 each month, indicating that something of a recovery is taking place from the effects of the Great Recession. In 2010, for example, sales tax revenues hit a low of $67,000 and a high of $92,000.