Dane County Executive Kathleen Falk announced today that the county’s total sales tax collections for 2001 exceeded budgeted projections by over $550,000. This is the fifth straight year that county sales tax revenues have met and exceeded Falk’s projection.
Sales tax collections for the month of December totaled $3,624,709, capping the total county sales tax collections for 2001 at $36,607,863. The 2001 budgeted amount was $36,050,000.
“We take a fiscally conservative approach to predicting the county’s income; that is why the revenue matched our projections despite the recession that was intensified by the tragedy of September 11th,” said Falk. “This sales tax report is good news for all of us in Dane County.”
Falk said, “Our prudent approach to budgeting has kept the county in strong financial condition. It consistently produces balanced budgets and has earned Dane County the top AAA bond rating from two bond rating agencies. This is in stark contrast with the state, which overestimated its revenues, and now faces a huge budget deficit. The governor, by eliminating shared revenues, is trying to make Dane County citizens pay for the state’s lack of fiscal management. It is not fair, and we continue to fight his proposals.”
State law allows Wisconsin counties to adopt a 0.5% sales tax that is imposed on the same goods and services that are subject to the state sales tax. The County sales tax is added to the state rate of 5% and is administered and collected by the state.
# # #
See Attached Chart of County Sales Tax Growth