Tax money on upswing
A significant increase in New Albany sales tax collections is welcome news as the city begins work on its budget for the coming fiscal year.
The latest sales tax numbers, for May, showed a 10.5 percent increase in collections.
Some have suggested that the increase is attributable to the decision by voters to allow the sale of beer and light wine within the city. That change went into effect in the middle of April.
We agree that the sale of beer, particularly in grocery and convenience stores, has had a very positive effect on city revenues, just as supporters of the ballot proposition said it would.
But we also think an improving economy and new retailers have been a big factor. The addition of the Lowe’s Home Improvement store, Walgreens Pharmacy, and new restaurants and a hotel all have made a difference.
The additional revenue from beer and light wine sales has come without any of the negative impact predicted by some opponents of the proposal. Crime is not on the rise and we have not had an upswing in drunk driving.
By the time the city has to make budget decisions at the beginning of September, we should have another month of sales tax results to help with revenue planning.
We think the city needs to look carefully at unmet city needs, should additional money be available, for next year. Developing a priority “wish” list for the city is important to keep any new money from just being absorbed in daily operations.
In any case, budget planning may be a bit easier as the economy continues to improve.
About Chris Elkins
- Blood donations urgently needed in the final weeks of summer August 23, 2016
- Local resident report being victim of jury duty scam August 25, 2016
- Tanglefoot Trail good, but needs more signs August 25, 2016
- Ellistown Breezes August 25, 2016
- Eastern Lights August 25, 2016
- Friday Night Lights: Deep ball upends Bulldogs August 26, 2016
- Urchins tame the Lions in shutout win August 25, 2016
- Easy riding ahead August 25, 2016
- County schools still among top in state August 25, 2016
- Rickey Scaggs to headline Tallahatchie RiverFest in Oct. August 25, 2016
- Seth Vincent Flake: New Albany and the people behind the scenes are do...
- Jeremy Cable: They also need to allow for a more eclectic musica...
- Darren Byles: Better yet, why aren't they punished for not foll...
- Darren Byles: "According to Strawn, Union County schools receiv...
- Lego MiniFaulkner: Also worth a look: http://www.knightsgambitvineyar...