Despite a drop of almost $7,000 from the previous month, at the midpoint of the year, Booneville’s one percent sales tax is still a robust 7.1 percent ahead of the 2017 collections.
The city was remitted in excess of $61,000 for the second time in four months in May so the decline in collections for June, which was a drop of more than 11 percent, was not completely unexpected.
However, the collection of $54,188.94 was still just under $3,500 more than was remitted to the city in June of 2017.
Because of that, the year to date collections of $338,109.77 is more than $22,000 ahead of the 2107 pace when the tax took in more than $640,000.
In 2017 the sales tax saw its most modest increase, 2.6 percent, since the last decline in collections, which was a drop of 0.7 percent from 2012 to 2013.
The June remission is reflective of taxes that were collected in April and remitted to the Department of Finance and Administration in May then sent to the collecting entities by State Treasurer Dennis Milligan’s office in June.
Booneville’s sales tax was renewed for a fifth five-year term in 2015. A city improvement account receives 30 percent of the collections and the police department another 22 percent. The fire department and Area Agency/Senior Center get 10 percent each; the airport 7 percent; street department, parks commission and animal control 5 percent each; the BDC/Chamber 4 percent and the Oak Hill Cemetery fund 2 percent.