Craighead County, Jonesboro See Small Decreases In Sales Tax

by Talk Business & Politics staff ([email protected]) 128 views 

The sales tax figures for Jonesboro and Craighead County continued on an economic yo-yo as both saw the exact percentage drop in revenue – 0.9%, officials said Thursday.

May 2015 tax collections of the one-cent sales tax in Jonesboro brought in $1,356,630.86, down $12,800 from last year, while the one-cent sales tax in Craighead County took in $1,508,146.21 down $13,800 over the same period.

Both saw large increases in the June report – which included April’s sales tax collections – with Jonesboro up nearly 7.5% and Craighead County nearly 8%.

Both Jonesboro Finance Director Ben Barylske and Craighead County Treasurer Terry McNatt were at a loss as to why there was a small drop in the July report, which is based on May collections.

However, both said the sales tax picture for the year has been rosier with both seeing increased numbers overall.

The county’s sales tax revenues are up about 6% year-to-date, while the city has seen a 4.6% increase, compared to numbers from 2014.

Barylske said the numbers for sales tax rebates have also gone up so far this year.

The city has seen about $365,000 in rebates so far this year, up from $282,000 in the same time in 2014, Barlyske said.

While the rebates have lowered the overall number, they have also shown an increase in construction projects, Barylske noted.

McNatt said the county’s sales tax numbers reached the $10 million threshold during July, a key part of the budget process for the county.

“We had a big climb last month and a slight dip this month. But it has been a constant climb since March,” McNatt said.

As of this month, the city’s sales tax has brought in about $9.6 million for the year.