City sees second straight month of lean tax revenue

Published 11:44 am Wednesday, August 17, 2011

For a second straight month, sales tax receipts for Vicksburg were down from 2010 collections, with June receipts running 1.18 percent less than the previous year.

Vicksburg receives 18.5 percent of all sales taxes collected by businesses inside the city. Revenues to the city lag actual sales tax collections by two months; for example, receipts for April reflect taxes collected on sales in February.

According to information from the city accountant’s office, June 2011 sales tax disbursements from the Mississippi Department of Revenue to the city totaled $601,976 — $7,189 less than the $609,165 the city received for June 2010. May sales tax collections for 2011 were 10.57 percent less than in May 2010.

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The city’s fiscal year runs from Oct. 1 to Sept. 30, and sales tax collections through June for the present fiscal year total $5.37 million, which is 25.9 percent less than the $7.25 million projected in the city’s 2011 budget, and 1.73 percent less than the $5.46 million collected for the same period in 2010. The city’s final sales tax revenue total for the current fiscal year will not be known until November, when the city gets the September sales tax receipts.