Collierville sees strong sales tax revenue despite grim indicators
Collierville leaders projected a decrease in sales tax revenue. However, halfway through the fiscal year the numbers are surprisingly positive.
There are 5 article(s) tagged Sales Tax Revenue:
Collierville leaders projected a decrease in sales tax revenue. However, halfway through the fiscal year the numbers are surprisingly positive.
Germantown will begin discussing its budget for the 2022 fiscal year in January. Sales tax has been better than projected in recent months.
Collierville's Board of Mayor and Aldermen unanimously approved its budget Monday. The town expects COVID-19 to negatively impact revenues.
Mayor Jim Strickland takes his budget proposal to the Memphis City Council in one week for the new fiscal year that starts July 1. And the unknown factor is how much sales tax revenue the city will lose in the shutdown of many businesses as nonessential during the pandemic.
Collierville has seen consistent and steady tax revenue in recent years. Town leaders say it helps alleviate the pressure on property taxes, and they have reason to believe the sales revenue growth will continue.
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