Jonesboro Sales Tax Jumps In December
by January 7, 2015 5:59 pm 142 views
It was a December to remember as Jonesboro city coffers saw a nearly double-digit increase in sales tax revenues.
Jonesboro Finance Director Ben Barylske said the city’s sales tax brought in $1,331,759.21 in December, a 9% increase over the same time in 2013.
It was also about a 12% increase over what city officials had budgeted for the month.
“I would have to say it is gas prices, plus Christmas,” Barylske said. “Also, the weather was good in December.”
Barylske echoed the statements made Monday by Craighead County Treasurer Terry McNatt. McNatt said the county’s sales tax saw a 10.19% increase in December, bringing in about $1.5 million. McNatt also credited the drop in gas prices for the increase in the Craighead County numbers.
Barylske said the drop in prices has an impact on everyone, especially people who have very little disposable income.
As for his own vehicle, Barylske said it now costs around $40 to fill up the tank compared to the $80 spent last summer.
YEAR IN REVIEW
Barylske said the city brought in $15.88 million in 2014, about $508,000, or 3.2% more than in 2013. The city only had two negative months (January and March) and rebounded in the second quarter to bring in an additional $125,000.
The city also saw nearly a quarter of the total increase in July, when the tax brought in $119,912.10.
The tax revenues have also gone up in the city since 2010, according to numbers released Tuesday.
After the downturn in the economy in 2008 and 2009, the city brought in $13,935,103.32 in 2010. The number rose to $14.5 million in 2011, $15 million in 2012 and $15.3 million in 2013.