JACKSONVILLE —
Staff and wire reports
Two thirds of Cherokee County towns; tax payments dropped in May, but overall the county receipts remained relatively stable compared to the year-to-date numbers released by the state’s comptroller’s office Wednesday.
The biggest drop came in New Summerfield, which saw its payments fall more than 50 percent.
For New Summerfield, the sharp difference in sales tax revenues from the previous year is nothing unheard of, New Summerfield officials have said.
The helter-skelter patterns of tax revenues may be because New Summerfield has just one store and one restaurant, officials have said.
Statewide, the comptroller reports that the state collected more than $2 billion in May, marking 26 months of sales tax growth.
Sales taxes are the state's largest source of income. Comptroller Susan Combs said the oil and gas industry continue to be a major contributor to sales tax growth, but that restaurants are also doing well as the economy continues to recover.
The state's tax revenues are higher than forecast, but still not enough to cover an expected $4 billion budget deficit next year.
Local News
June 7, 2012
Sales tax receipts remain slightly above 2011 for Cherokee cities
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