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Revenue from sales taxes continues upward spiral in Mahoning Valley



Published: Sun, October 7, 2012 @ 11:51 a.m.

Revenue from sales taxes continues upward spiral in Mahoning Valley

By JAMISON COCKLIN

jcocklin@vindy.com

YOUNGSTOWN

Sales-tax figures from the Ohio Department of Taxation show continuing gains across the Mahoning Valley, with modest upward collection rates in June and July, demonstrating consumers seem inclined to spend more this year than last.

The most recent data, which runs through July, is delayed because of the 60-day turnaround required for merchants to report the figures and the time it takes for the Department of Taxation to process the funds and dole them out to both the state and its 88 counties.

“Generally, it’s safe to say that when sales-tax receipts are up — the economy is up — there’s definitely a correlation there,” said Gary Gudmundson, chief spokesman for the ODT.

After a sea change in positive year-over-year gains from March through May, Columbiana County was once again the leading beneficiary, with a 10 percent increase in June, collecting nearly $2 million. In July, the county’s sales tax shot up 25 percent from the same month a year earlier to about $1.4 million.

Read the full story with more data on sales-tax revenue for the Mahoning Valley on Monday in The Vindicator and on Vindy.com.


Comments

1JoeFromHubbard(1069 comments)posted 2 years ago

Prime example of revenue generation from increased business, not taxation as Obama wants.

He wants increased taxes and is anti-business, what a great combination.

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2redeye1(4564 comments)posted 2 years ago

Just watch how the three D party amigoes (Commisssioners ) waste it ' they will now take care of their pet projects.

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3doubled(210 comments)posted 2 years ago

Joe, you're sort of right and sort of wrong. Business revenues are up because consumers are more confident and are spending more. That's the only reason tax revenues are up. And as I'm sure you understand, it is the middle class consumer who drives the US economy. President Obama's tax plan continues tax cuts for the middle class. Romney's doesn't. Up until the debate (and this is an absolute fact) Romney's plan included cutting middle class taxpayer deductions, like your mortgage interest credit, school loan interest credit, the child tax credit, etc... President Obama has stated over and over that the middle class will continue to get these tax credits so that they have more money to spend as consumers - thus the economy continues to grow. I'll be honest, I've NEVER seen a presidential candidate flip-flop as Mr. Romney did during the debate regarding his tax plan. So if he becomes president, we'll eventually find out if he was lying for the past 18 months - or if he was lying last Wednsday night. But in the end - it is the American consumer that creates a strong economy - take care of them - and the economy will take care of itself.

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4nipsy(133 comments)posted 2 years ago

I would venture to say that the sole reason that the Tax revenue is up is the Shale Boom in Columbiana County. So you can all save your breath about TAX increases or a recovering economy because neither has anything to do with this increase..

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5JoeFromHubbard(1069 comments)posted 2 years ago

@ nipsy:

Assuming that you are correct, that shows how important the "Shale Boom" is to our economy.

And we have the fracophobics who want to impede this wonderful opportunity. What a shame.

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