Sales Tax Update
The following information is from November sales and use tax data that is collected in December, and reported in January. Watch for December numbers later in February.
- December Sales Tax collections: $4,997,745, an increase of 0.5% compared to December 2007. Collections ended ahead of budget projections by more than $2 million in 2008.
- December Use Tax collections: $972,140, an increase of 2.3% compared to December 2007. Collections ended behind budget projections for the year by $850,000.
- Residential permits pulled: 16 permits, 44 permits for remodels. In December 2007 there were 21 new permits, and 37 permits for remodels.
- Commercial permits pulled: 4 permits, 22 permits for remodels. In December 2007 there were 3 new permits, 13 permits for remodels.
- December Sales Tax Licenses: Received 128 applications for sales tax licenses, and 170 businesses terminated their licenses, totaling a net loss of 42 business licenses.
Although we’ve seen modest sales tax increases this tax reporting period, it is very good growth in the current economy.