Sales tax up for 7th straight month
Starkville retailers continue to defy the stagnant national economy as the latest sales tax figures show growth for the seventh straight month.
Starkville’s sales tax collections for the first seven months of 2010 are more than $135,000 above what was collected for the same period in 2009, according to the latest figures reported by the Mississippi Tax Commission.
City officials received the latest tax figures this week. It takes two months for the Tax Commission to process the revenue and report the figures to municipalities.
For July, Starkville businesses collected $418,245.73 in sales tax as compared to $413,089.75 for July 2009. For the first seven months of 2010, the city has seen $3,036,439.01 in sales tax collected as compared to the $2,900,462/38 collected for the same period in 2009 — an increase of $135,976.63.
Each of the first seven months of 2010 saw increases in sales tax collection as compared to the same months in 2009 with the exception of February of this year, which was down a little over $2,000 in collections as compared to February 2009.
The sales tax collections from January to July saw a monthly average of $433,777, while tax collections for
all of 2009 saw a monthly average of $427,479.76.
Revenues from the 2 percent restaurant and hotel tax have also held steady and have seen incremental growth for the first seven months of this year
The 2 percent tax revenues from January to July 2010 total $805,616.85, as compared to the $640,759.17 collected for the same period for 2009. The first seven months of 2010 have seen a monthly average of $115,088.12 in 2 percent tax collections. For 2009, the monthly average was $110,173.07.
The 2 percent tax revenues are split among the Starkville Convention and Visitors Bureau (15 percent), the Starkville Parks and Recreation Department (40 percent), the city (10 percent), the Oktibbeha County Economic Development Authority (15 percent) and Mississippi State University (20 percent). The CVB and EDA are both member agencies of the Greater Starkville Development Partnership.