Jail tax collection nearing one-third of bonded debt
After receipt of a record $111,343.83 in sales tax revenue from its Logan County jail taxes in July, the county should reach the one-third mark in bond payments on the construction costs next month.
Logan County sold $12.1 in bonds to pay for the construction of its new detention center on Grober Street in Paris.
Through last week’s collections, county residents have payed back a little more than $3,942,000 on the one-half percent to build the jail.
The tax is repealed after payback of the bonded debt.
A second tax, for operation and maintenance of the facility has taken in the same amount.
July’s receipts mark the fifth time in seven months the taxes have topped $100,000, which is the most for any year since the tax took effect on Jan. 1 of 2017.
July’s remission from State Treasure Dennis Milligan’s office is reflective of taxes collected by county vendors in May, which are turned over the Department of Finance & Administration in June, and then to the collecting entities in July.