Sales tax proceeds on rise
Jonesboro Sun
Keith Inman
7/28/2006
JONESBORO -- Local sales tax proceeds continue to produce healthy increases from last year.
Revenue received this week from Jonesboro's 1-percent tax were up by 6.73 percent compared to July of last year, while Craighead County's 1-percent tax produced revenues that were up by 5.33 percent.
The July figures generally reflect taxes collected by retailers in May and turned in to the state Department of Finance and Administration in May.
April was the first full month of operation for some 80 stores at the mall. Many of those stores are new to Jonesboro.
The city tax produced $1.060 million, almost $67,000 more than the same month a year ago. The countywide tax brought in $1.153 million, of which Jonesboro received $779,005.
Jonesboro's proceeds from the two taxes were up by $106,237, compared to the same month last year. And for the year the revenue is up by almost $1.1 million, according to interim Finance Director Herb Davis.
At least part of the July revenue represents the first month of operation for the new Circuit City store, which opened in May.
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