Sales tax receipts in Logan County were $1.192 million in 2016, according to County Treasurer Mickey Oates. That is close to the $1.191 million collected in 2015 and signals a return to steadiness after the Great Recession began affecting county tax revenues in 2010.
Sales tax revenue in 2016 was $1,854 more than in 2015.
Also, sales tax revenue for the fourth quarter of the year was slightly higher than in the fourth quarter of 2015. In the fourth quarter of 2016, Logan County collected $294,861.44, compared to $294,167.79 in the fourth quarter of 2015.
Logan County assesses a one percent county wide sales tax. Those revenues are split between the county and incorporated communities in the county, with the county getting about 56 percent. Sales tax revenues are considered an important barometer of the local economy since increases mean increased purchasing.
“Obviously, it was a pretty good year,” Oates said. “Rising sales tax receipts are a sign of a healthy economy.”
Each year, as the county budget is being put together, Oates makes an estimate of sales tax revenue for the following year. This year, Oates projected sales tax revenue at $1.1 million. Actual revenue was $92,957 above her projections. Actual revenue exceeded monthly projections 11 times in 2016. The only month revenue was below projections was in March when revenue was $8,895.03 below projections.
Oates is projecting sales tax revenue for 2017 at $1.1 million, the same as in 2016.
Monthly sales tax revenue in 2016 ranged between a low of $82,771.91 in March to a high of $112,640.96 in April. The average monthly collection for the year was $99,413.41.
Sales tax receipts at or above $1 million a year was common until the county started feeling the effects of the Great Recession in 2010. The Great Recession took hold after the financial crises of 2008. The lowest year for sales tax revenue was 2012 when the county collected $950,950.82. Each year since, though, collections have been above $1 million with collections in 2015 and 2016 being the high points.