City officials were encouraged to see the January sales tax report showed a slight increase over the same time last year, but added it is too soon to know if the numbers indicate a trend or a blip.
“Of course we hope this is a sign that we are stabilizing, but one month doesn’t make a trend,” City Finance Director Angela Palmer said.
Sales tax collection numbers were released Thursday, reflecting collections of December 2009, and showed the city collected $32,433.90 more than during the same period in 2008. The numbers are particularly encouraging because November tax collections were down a whopping $396,446.84, or 8 percent from November of 2008.
The city collected $6,056,033 in December, which is still less than the budgeted amount expected of $6,316,091.
Overall, sales tax collections are down 2.66 percent in the 2010 fiscal year from the same time period in 2009, and 7.17 percent, or $1.5 million, under budget.
Lodging tax collections, however, increased 20.7 percent over the same time last year. It is not known if the increase in lodging tax collections can be tied to Country Crossing, which opened Dec. 1.
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