Sales tax collection trend offers reason for optimism
Brookhaven leaders have reason for optimism in the wake of the recent fiscal year that concluded at the end of September.
State sales tax data through October, which covered sales activity in September, indicated the city wrapped up the past fiscal year with $5.1 million in sales tax revenue. That equated to roughly $425,000 a month.
That total is well above the $410,000 in sales tax revenue the city is budgeted to receive in the current fiscal year. In the first four months of the state’s fiscal year, which began in July, Brookhaven is averaging a little more than $418,000 a month.
Sales tax revenue helps municipalities fund a wide variety of services – from police and fire protection to street maintenance – that otherwise would have to be paid for through property taxes or from other revenue sources. For that reason, strong sales tax collections are vitally important.
The national economic state continues to cast a long shadow on signs of recovery. But good sales tax collections represent a rebounding consumer confidence and offer hope for better tomorrows.