Indicators continue to show local economy improving
NORWICH – The local economy shows signs that it’s still improving.
An annual report of the amount of unpaid town and county taxes shows more people are paying their taxes for the first time in three years. Also, sales tax collections continue their upward trend, with 5 percent more collected compared to this time last year. The county took in $1.38 million in May. So far in 2012, collections are up 2.85 percent.
While there’s still more than $5 million the county must cover by year’s end, about $114,000 more owed taxes were paid than in 2011. School districts and villages are made whole each year when the amount of taxes collected falls short of the amount billed.
The tax department is uncertain what will result after the annual tax sale this year, but a number of parcels up for bid have a lot of outstanding taxes because they were previously under the security of bankruptcy protection.
There are 57 foreclosed parcels available for sale. July 24 is the last day to submit bids. Bids will be opened on July 26 in the County Office Building.
An annual report of the amount of unpaid town and county taxes shows more people are paying their taxes for the first time in three years. Also, sales tax collections continue their upward trend, with 5 percent more collected compared to this time last year. The county took in $1.38 million in May. So far in 2012, collections are up 2.85 percent.
While there’s still more than $5 million the county must cover by year’s end, about $114,000 more owed taxes were paid than in 2011. School districts and villages are made whole each year when the amount of taxes collected falls short of the amount billed.
The tax department is uncertain what will result after the annual tax sale this year, but a number of parcels up for bid have a lot of outstanding taxes because they were previously under the security of bankruptcy protection.
There are 57 foreclosed parcels available for sale. July 24 is the last day to submit bids. Bids will be opened on July 26 in the County Office Building.
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