Jonesboro, Craighead County see gains in 2015 sales tax revenue

The city of Jonesboro collected $1.42 million from its sales tax in the December report, up 6.69% over the same time in 2014. Craighead County brought in $1.588 million in December, a 7% boost over the same period in 2014.

The report reflects collections of sales made in October, with taxes remitted by merchants to the state in November and returned to the cities and counties in December.

Jonesboro Finance Director Suzanne Allen and Craighead County Treasurer Terry McNatt said the revenues show that people are willing to spend money. They said lower gas prices have given people more disposable income, which can be spent elsewhere. On Tuesday, gas prices in Jonesboro were in the $1.60 to $1.65 per gallon price range, down from the $1.70 to $1.80 price range in other areas of Northeast Arkansas.

Allen said another factor involves Jonesboro being a shopping hub for the region, with people driving in from as far away as Corning and Piggott to shop. McNatt said the growth in Jonesboro has also helped the sales tax revenues.

“I am amazed to see all of the traffic here,” McNatt said of Caraway Road and Red Wolf Boulevard. “It is definitely high volume. Plus, we have more restaurants than you can imagine.”

YEAR IN REVIEW
Jonesboro and Craighead County saw increases in overall sales tax revenue in 2015. Craighead County brought in $18.411 million in 2015, up $840,479 from the same time in 2014. The county saw increases in nine of the 12 months, ranging from 0.69% in November to 15.6% in February. The smallest drop in 2015 was a 3% drop in May.

Jonesboro brought in $16.591 million in 2015, up 4.48% or about $700,000 more than in 2014. The following is a breakdown by month for 2015, compared to 2014 numbers:

JONESBORO
January 2015: $1.338 million, up from $1.268 million
February 2015: $1.759 million, up from $1.569 million
March 2015: $1.245 million, up from $1.097 million
April 2015: $1.289 million, up from $1.265 million
May 2015: $1.295 million, down from $1.380 million
June 2015: $1.348 million, up from $1.251 million
July 2015: $1.356 million, down from $1.369 million
August 2015: $1.411 million, up from $1.308 million
September 2015: $1.388 million, up from $1.299 million
October 2015: $1.375 million, down from $1.387 million
November 2015: $1.362 million, up from $1.351 million
December 2015: $1.420 million, up from $1.331 million

CRAIGHEAD COUNTY
January 2015: $1.473 million, up from $1.416 million
February 2015: $1.902 million, up from $1.645 million
March 2015: $1.364 million, up from $1.218 million
April 2015: $1.417 million, down from $1.420 million
May 2015: $1.469 million, down from $1.515 million
June 2015: $1.491 million, up from $1.381 million
July 2015: $1.508 million, down from $1.521 million
August 2015: $1.558 million, up from $1.452 million
Sept. 2015: $1.548 million, up from $1.449 million
October2015: $1.555 million, up from $1.543 million
November  2015: $1.532 million, up from $1.552 million
December 2015: $1.558 million, up from $1.484 million

In spite of the increases, Allen said city officials have budgeted conservatively over the past several years. The city is in the middle of budget talks, with a budget expected to be approved in January. Allen said city officials are projecting a $2 million increase in sales tax for the 2016 budget.