Stanly reports increase in sales tax revenue
Published 3:28 pm Monday, September 14, 2020
Sales tax revenue for July rose from June but the numbers are still lower overall, according to a report released this month by the county office.
In a newsletter released by the county Sept. 4, reports stated sales tax revenue in July was $179,919 higher than in June, a 15 percent increase. However, the increase was below the statewide percent increase of 19.7 percent.
The July numbers were 19 percent higher than in 2019 for an additional $218,974. Most of the state had increased just 11 percent as compared to July 2019.
Stanly also received the largest monthly total ever from the Article 39 local option sales tax. In July, Stanly received $623,100 from Article 39, which was more than the previous monthly high in June 2020 by $81,000.
County Manager Andy Lucas said the increase “is very encouraging given many businesses still have operating limitations as a result of the governor’s current restrictions.”
Lucas added, though, to keep in mind sales tax revenue lags two to three months so the numbers this month represent sales from June and July.
“We will be watching the sales tax revenue figures closely over the next few months to see if the numbers continue to trend in a stable or positive direction or take a dip given the fact that many businesses are still not operating at full capacity,” Lucas said.