Dane County Executive Scott McDonell announced today (12/27/10) that Dane County received $3,621,750 as its monthly sales tax payment in December. This figure is 3.76% higher than the amount received in December 2010. For the year, sales tax revenue for Dane County is 1.65% higher than at this point last year.
McDonell said, “This report is encouraging and is further evidence that 2009 was the bottom of the decline in sales tax. The growth we’ve experienced through the year is one sign that economic recovery is taking hold in Dane County. Reports about holiday spending are also cause for cautious optimism.”
Sales taxes represent the second largest source of general purpose revenue for Dane County. The 2010 budget estimate was $40,143,843; at the current rate of collection, the actual figure will be closer to $41 million. McDonell added: “We budgeted sales tax conservatively in 2010 and 2011; these strong sales tax collections bolster the County’s fiscal health.”
Due to a two-month lag between actual sales and the receipt of sales tax revenue by the county, the results of actual holiday shopping will be reflected in sales tax receipts in February 2011.
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