YORK – The city’s sales tax receipts for the month of March (reflecting transactions that took place last January) continued the upward trend that has become the norm in the last year or so.
For this month, the city took in $378,727 which makes this the highest total for the month of March in the history of the local sales tax.
It was $30,978 higher than the sales tax received by the city last March, which is an 8.91% increase.
The city’s fiscal year begins in October – since the start of the fiscal year, the city has received just over $2.6 million in sales tax receipts.
In the last 12 months, the city has taken in over $4.9 million – which is $600,000 more than the previous 12-month period.
For March, LB 357 funds came in at $126,242 which was $8.91% higher than the total for the same month last year.
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The city’s general fund and street fund’s sales tax influx is used for operations. The LB 357 funds are used for special earmarked projects.
The city’s sales tax earnings are currently 20.44% more than what was anticipated/budgeted.
While there is no specific indication as to why the city’s been bringing in record sales tax numbers, it can be attributed to newly-taxed online purchases, inflation and a strong economy.
