Craighead County and its seat, Jonesboro, have been on a historical sales tax collection run during the last decade, and both are poised to set all-time collection numbers as 2019 comes to a close.
To date, the city has collected $17.479 million in sales and use taxes, only about $700,000 less than the record $18.184 million garnered in 2018, and there is still one month to go. An average December haul would be twice as much as the difference, according to figures released by the city.
The city’s strong collections run has been fueled recently by receipts received for the month of November. Jonesboro collected $1.585 million last month, a 5,2% ($78,404) increase as compared to the same month in 2018. Year to date, the city is $823,794 over the previous high through 11 months, a 4.95% increase.
Not only are the collections higher, but they are also higher than the projected budget amounts formulated by the city prior to the open of the collection cycle in January. The collections are 4.72% ($787,399) above the budget projections through November.
Craighead County has had similar tax and use collections patterns through the first 11 months this year. To date, the county has collected $19.479 million, more than 6% more than was collected through November of 2018. In November, the county collected $1.804 million for November, a nearly $100,000 increase from the same month in 2018. It’s by far the most ever collected during the month, according to the Craighead County Treasurer’s Office.