Sales tax income increases in May

Published 11:44 am Friday, July 1, 2011

Vicksburg’s sales tax income for May increased over revenues for May 2010, but was more than $16,000 less than April’s total.

Vicksburg receives 18.5 percent of all sales taxes collected by businesses in the city limits. Tax disbursements to cities from the Mississippi Department of Revenue run two months behind, meaning the money the city received in May was collected in March.

According to the Department of Revenue, Vicksburg received $606,063 in tax revenue in May, which was $9,110 more than the $596,953 it received in May 2010, but down $16,296 from April’s disbursements of $622,359.

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The city’s year-to-date sales tax revenue for the 2011 fiscal year was $6,577,312 — $28,786 less than the $6,606,098 for the same period in 2010. Tax revenues were down $452,629 from 2009’s year-to-date total of $7,029,941.

Vicksburg Mayor Paul Winfield said he is optimistic that the city will see its sales tax figures improve.

“I’m happy to see the revenue increase,” he said. “I believe we’re going to see an incline in revenue, because we’ve seen some new businesses come in the Pemberton mall, the casinos, and some other new businesses starting.

“I believe the 2011 sales tax figures may come close to 2010 at the end of the year,” he said.

Winfield’s optimism, however, is tempered by the possibility that the city could see a drop in tax revenues when the collections for April and May come to the city in June and July.

“I think we expect a reduction in the April and May collections, which will reflect the flood period, when they come on the rolls,” he said. “But I expect to see collections rebound with the casinos coming back on line every day.”