WASHINGTON: Strong growth in sales tax revenues continued in Trousdale County during November, according to figures released by the state last week. Trousdale County collected $270,755.39 in state sales tax and $81,316.11 in local sales tax during the month. Those numbers compare to $212,543.45 and $63,155.76 in November 2014.
The county also collected $38.13 in income tax, $1,381.16 in inheritance tax, $19,626.70 in motor vehicle tax and $15,931.77 in realty transfer & mortgage tax during November.
Statewide, Tennessee revenue collections for November continued to reflect economic growth. Finance and Administration Commissioner Larry Martin reported that November collections were $902.6 million, which was 9.58 percent more than November 2014.
“We believe the current fiscal year will show moderate growth, somewhat better than most recent post-recession years,” Martin said. “Sales tax revenues are improved from last year, but economists aren’t certain we will sustain this growth pattern. We won’t know how after-Thanksgiving retail sales performed until this time next month.
November collections were $50.9 million more than the budgeted estimate. Year-to-date collections for four months arw $274.2 million more than the budgeted estimate.
The budgeted revenue estimates for 2015-2016 are based on the State Funding Board’s consensus recommendation and adopted by the first session of the 109th General Assembly in April 2015. Also incorporated in the estimates are any changes in revenue enacted during the 2015 session of the General Assembly. These estimates are available online at tn.gov/finance/news/category/revenues.
