Chenango sales tax collections up
NORWICH – Sales tax collections in Chenango County were up nearly 14 percent after the first three months of 2011.
Chenango County Treasurer William C. Craine reported that $4,796,000 was taken in after the first quarter of 2011, or about $588,700 more than during the same period in 2010.
A two-year comparison shows a 4.88 percent increase in tax receipts from 2009 to 2010, whereas collections dropped 6.63 percent from 2008 to 2009 when the nation’s economic slump hit home.
The county’s 2011 award of Tobacco Settlement Funds from the federal government dropped 5 percent when compared to last year, however. The recently received amount was $715,676 compared to $754,868 in 2010. The annual award was much closer to a million dollars prior to the recession.
Chenango County applies Tobacco Settlement funds to administer many government programs and services. Deputy Treasurer Ardean Young told county lawmakers recently that the sale tax surplus could offset losses in tobacco revenues, fewer receipts from Off Track Betting and other shortfalls that may result through the year.
Chenango County Treasurer William C. Craine reported that $4,796,000 was taken in after the first quarter of 2011, or about $588,700 more than during the same period in 2010.
A two-year comparison shows a 4.88 percent increase in tax receipts from 2009 to 2010, whereas collections dropped 6.63 percent from 2008 to 2009 when the nation’s economic slump hit home.
The county’s 2011 award of Tobacco Settlement Funds from the federal government dropped 5 percent when compared to last year, however. The recently received amount was $715,676 compared to $754,868 in 2010. The annual award was much closer to a million dollars prior to the recession.
Chenango County applies Tobacco Settlement funds to administer many government programs and services. Deputy Treasurer Ardean Young told county lawmakers recently that the sale tax surplus could offset losses in tobacco revenues, fewer receipts from Off Track Betting and other shortfalls that may result through the year.
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