County's sales tax revenue up so far, but nobody's celebrating
Submitted by Howard Owens on May 18, 2011 - 11:41pm
In May, the county's share of sales tax was up $116,000 over May 2010, according to County Treasurer Scott German. So far this year, sales tax revenue is up $755,000.
German presented the figures to the Ways & Means Committee on Wednesday afternoon, and Mary Pat Hancock, legislative chairwoman, was quick to point out the county shouldn't start rejoicing just yet.
The year isn't over and most of increase stems from the run up in food and gas prices, two inflationary factors that may yet reduce consumer spending in other areas.
"There's going to be some pain associated with it," Hancock said. "Maybe I'm wrong, but I'm not going to depend on that continued upswing."
County sales tax revenue still hasn't caught up with 2008 levels, German said, when the total exceeded $34 million, but his best guess -- and he emphasizes it's just a guess -- is that 2011 revenue will be more than $33 million, which would beat the 2009 figure of $32 million.