Business
Local Sales Tax Collections Up – Thanks for Shopping Central!
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From the City of Central
Monthly sales taxes in the city of Central continue to come in higher than projected in the city’s budget for the first six months of the fiscal year. For the six month period beginning July 2011 and ending December 2011, the latest month for which sales tax figures are available, sales tax revenues totaled $2,353,002.86 within the city limits. Part of these taxes represent a nearly $100,000 audit adjustment from a business which had inadvertently paid its sales taxes to Baton Rouge. Motor vehicle sales taxes totaled $510,802.21 for the same period.
The city’s budget had projected sales tax revenues of $2,061,602 and motor vehicle sales taxes of $459,984 for the six months ending 2011. This represents a 14.13% increase in sales taxes over the projected budget and an 11.05% increase in motor vehicle taxes over the projected budget.
In looking at year to year comparisons for 2010 and 2011, sales taxes are also up in Central. For the calendar year 2010, total sales taxes collected were $4,210,735.70 and for calendar year 2011, total sales taxes collected were $4,505,990.37 which represents a 7% increase year to year. Motor vehicle sales taxes in 2010 totaled $1,112,866 (which includes audit adjustments in the city’s favor) and in 2011 totaled $1,137,747 (which includes audit adjustments in the city’s favor). This represents a 2.2% increase.
The city plans to use some of the surplus funds for infrastructure improvements. Remember to shop Central first and use “Central, LA” in your address line for all mail along with your current zip code.
For additional information, please contact David Barrow, 261-5255.
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