Sales tax revenues show decline in March
Published 12:01 am Tuesday, May 17, 2016
NATCHEZ — Sales tax numbers for the City of Natchez stabilized in February, but recent data shows another drop in March.
Sales tax numbers released Monday, which measure the amount of sales tax revenue the City of Natchez received in March 2016, show a 6.3-percent decrease compared to March 2015.
The sales tax revenue of February 2016 was almost flat year over year — 0.2 percent more — than that of February 2015.
Email newsletter signup
City Clerk Donnie Holloway said many of the lower sales tax numbers could be contributed to the drop in oil prices, which may be short-lived.
“It looks it like it’s coming back a little bit,” Holloway said of the oil prices that affect local oil production.
Though the first three months of the city’s tricentennial year have averaged lower than the first three months of 2015, the overall revenue has increased as summer approaches.
January receipts totaled approximately $385,000. The city collected $467,000 in February and nearly $482,000 in March.
Last year, the sales tax income peaked in March before dropping in later months. During the tricentennial, it could instead continue to grow, Holloway said.
“We could be seeing some increases,” he said. “Like this weekend with the deal on the bluff, and you have 600 people in the color run. I’m told there are people from 100 miles away coming in. So we could see an increase.”