Gov't
Sales Tax Collections in Central for First Half of Fiscal Year
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Total sales tax collections have dropped nearly 3% in the city of Central for the first half of the fiscal year for the months July through December 2012 when compared to the same period during 2011. Total sales tax receipts totaled $2,709,149.77 for the months of July through December 2012. During the same period in 2011, a total of $2,803,773.07 was collected. The difference of $94,623.30 reflects an overall 3.37% decrease in collections.
Within these figures, general sales and use taxes within the city declined by $128,617.51 from year to year during the six-month period, which is a 5.61% decrease. However, motor vehicle sales taxes rose by $33,994.21, which is a 6.68% increase. Part of the decrease in 2012 can be attributed to the construction of the new school campuses back in the summer of 2011. During the summer of 2011, construction on the new Intermediate and Middle Schools began, which resulted in extra sales tax collections during that period from the costs of new materials delivered to the schools. The Central Community School System chose to not waive the sales tax collections.
The city’s 2012-2013 budget projected a nearly 2% decrease in sales taxes. Through the first six months of the current fiscal year budget, actual versus projected sales tax revenues are differing by a decrease of $38,645.32, which is an extra 1.41% decrease.
However, when compared with total sales tax figures from 2010, the 2% general sales and use tax revenues (excluding motor vehicle sales taxes) within the city in 2012 are up nearly 3.6%.
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