Town sales tax still up despite slow October
By Benjamin Graham, Jackson Hole, Wyoming
December 10, 2012
Sales tax revenue for the town of Jackson is ahead of budget halfway through the fiscal year despite a slow October.
The town received $782,981 in taxes distributed in December. The funds were collected in October, according to the town finance department.
That was a 15 percent decrease from the same period last year. But the town has pulled in $210,246 more than projected since the fiscal year began July 1.
Driven largely by strong revenue during the height of the summer, the town remains on track to surpass the budget and last year’s totals.
Moving into the winter, the town’s collections have reached $6.1 million.
The budget originally estimated collections of $9.31 million by the end of the fiscal year, June 30, 2013. That’s an estimated .3 percent increase from the previous year.
The strong showing in the 2013 fiscal year is based on inconsistent sales tax activity.
June, July and September fared better than last year for sales tax collections. Revenue lagged in May, August and October.
Money from the tax makes up about two-thirds of the town’s general fund, which is used to pay for day-to-day operations, such as the police department and public works.
Sales tax money is distributed by the state to the town and county based on population. The current formula gives 55 percent of collections to the county and 45 percent to the town.