Wednesday, April 13, 2011
Reconcilled sales tax figures for the first quarter of 2011 show a 1.29% increase over a year ago and that's a slowing of the larger percentage increases seen throughout 2010..... Recent surges in gas prices and local car sales may drive numbers up, but the influx of Canadian shoppers may have ebbed in the most recent quarter. In any event, less robust increases will lessen the ability to merely absorb decreases in other revenue streams. A close look at the current quarter will be needed to better guage the trend for 2011......Since sales tax is our largest local revenue stream, its meanderings plan a large part in decisions on cuts and property tax rates.