County tax revenue continues to decline

BENTON COUNTY — October marked the 11th consecutive month of sales tax revenue decreases for Benton County.

Sale tax revenue for October was down 9.66 percent, or $69,598 when compared with October 2008, said Richard McComas, county comptroller.

McComas told members of the county’s finance committee Tuesday sales tax revenue collected for November and December 2009 should give them a better picture about the state of the economic recession.

“We will be able to tell if we are still in a recession or if we are coming out of it by the next three months,” McComas said.

Sales tax revenue collected in 2009 in the county was down 7.22 percent or $637,376 for the year, McComas said. Those figures include sales tax revenue collected in November and December 2008.

The first decline in sales tax revenue seen by the county was in December 2008 with a 0.28 percent, or$2,085 decrease over December 2007. Sales tax revenue was down 6.55 percent, or $48,158, in January 2009.

February showed a 13.25 percent, or $98,512, decline in sales tax revenue and March followed suit with a 7.13 percent, or $55,855, decrease over 2008.

Sales tax revenue was down 8.8 percent, or $65,074, during April when compared with April 2008 while May showed a 6.34 percent, or $48,411, decrease.

Sales tax revenue for June was also down 10.63 percent, or $84,701. Sales tax revenue decreases were the lowest in August with a 0.4 percent, or $2,689, decrease over August 2008 and the decreases continued in September with a 9.14 percent, or $71,366, decrease.

County officials modified year-end sales tax revenue projection mid-year in 2009, McComas said, noting originally he had hoped the county would collect $8.9 million in sales taxes during 2009.

That number was lowered to $8.2 million in June with several months of revenue decreases showing a trend. During 2009, the county collected $8,194,203 in sales tax revenue, $637,376 shy of those projections, McComas said.