Sales tax revenue increases

Published 3:00 am Saturday, September 17, 2016

Eleven months into the fiscal year, sales tax revenues in Pike County are outpacing last year’s numbers.

At over $7.2 million, Pike County sales tax is $300,000 higher than it was this time last year. That’s a 4.1 percent increase. Of the 11 months, nine had higher revenue than the same month last year.

County administrator Harry Sanders said those totals are for the 2 cents that the county collects. Of the 1 cent that the county commission and schools split, Sanders said that the majority goes to the schools.

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“Of the 1 cent that we share, $150,000 is taken off the top to fund agencies,” Sanders said. “Of the remaining amount, 75 percent goes to the city and county schools and 25 percent goes to the county commission general fund. These funds are utilized to fund all operations of the county, such as the sheriff’s office, the EMA and the probate court.”

Sanders said that the county has seen an increase in revenue each fiscal year for the past three years.

The county’s numbers include August, but the following reports from Troy and Brundidge only go through July.

In Troy, sales tax revenue is up more than $350,000 than it was last year at over $5.1 million. Every month of this fiscal year has seen higher revenue compared to the same month last year.

City Clerk Alton Starling said that the revenue is 3 percent over the budgeted amount, which itself was a 5 percent increase over last year.

“It really about the overall economy,” Starling said. “You have more travellers going to the beach that are coming through here and there are more purchases. Less money is going to gas and more is going to retail.”

Starling said that the city’s expecting more revenue growth for next year, budgeting again for 5 percent growth.

Publix is set to open during the new fiscal year alongside several other retail stores that could bring even more business into Troy, but Starling said that the city can’t estimate too optimistically because it is yet to be seen what effects the development will have on other businesses and sales tax revenue as a whole.

Brundidge sales tax revenue is up as well, bringing in over $440,000 through ten months. That’s 5 percent more than this time last year.

Brundidge has seen increases in revenue for the past three years.