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Town’s Sales Tax revenue level for year


Town Recorder Allison Myers reported positive news in terms of the Town’s Sales Tax revenue at the Farragut Board of Mayor and Aldermen meeting, Thursday, Oct. 22.

“We’re not down as far as we thought we would be,” Myers said.

“I think overall, it’s very good,” she added.


Local sales tax in July and August of fiscal year 2010 was below that of last year, but this year’s sales in September and October have been significantly above last year’s.

September’s sales tax neared $275,000.

Sales tax reports run two months behind, meaning July’s reported numbers actually are sales from May.

But even with higher local sales tax numbers, Myers said, the state-shared Sales Tax is down.

“Our state has gone down, but with our local sales tax going up, it kind of balances each other out,” Myers said.

In addition to higher local numbers than last year, Myers said she also had not completed the sales tax audit for this year.

The audit ensures sales tax is not mistakenly paid to Knox County or the City of Knoxville for businesses that actually are in Farragut limits.

“It’s never gone down. We’ve always found money that has been paid to Knox County that is actually for us,” Myers said.

Wholesale beer and liquor taxes, while slightly up overall, reported a disappointing September, with numbers far below last year’s.

“I don’t know what happened in September,” Myers said.

Pamela Treacy, owner of Campbell Station Wine and Spirits and an audience member, verified those numbers.

“September was just so quiet. Somebody who’s owned a store for 40 years said he’d had his slowest Saturday in 40 years in September,” Treacy said.

But, “Overall, I’m very pleased with it. It’s not as bad as I thought it would be,” Myers said.

At the BOMA Nov. 23 meeting, the Board will view the Town’s audit report, which Myers said she also was excited about.

“We do have a little bit more money, but I have that dog-eared for some things we kind of robbed from, preparing for a weaker year, revenue-wise,” she said.

 

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