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Stanly County releases sales tax summary

Stanly County issued a FY 20-21 Sales Tax Summary Friday:

Sales tax revenue for October (December 2020 report) was $70,876 (6%) lower than September (November 2020 report). Statewide sales tax revenue increased in October by 6% as compared to September. Thus, Stanly County’s sales tax revenue results over the past month were not as favorable as the statewide results.

Sales tax revenue for October 2020 was $84,991 (8%) higher than the same revenue source in October 2019.

Stanly County’s year-over year sales tax increase is positive and encouraging, but the increased lagged the statewide year-to-year increase of 12% in October.

To date, the County’s actual sales tax revenue is trending very favorably when compared to the amount budgeted in FY 2020-2021.

Based on four (4) months of data actual sales tax revenue exceeds budgeted revenue by
19%.