From staff and press reports
Consumer spending in Louisville continues to grow in spite of slow
economic growth throughout the Winston County Region.
Louisville’s sales tax collections in March totaled $131,833.91 up
over March 2012 by $3,914.10, or 3 percent. Year-to-date collections
are up 11,625.
While the results for the fiscal year are encouraging so far, city
officials are maintaining a conservative forecast due to uncertainty
in the national economic picture and potential adjustments.
Winston County Economic Development Director Gerald Mills noted at a
recent Rotary meeting that the sales tax growth showed a positive
signs for the economy and that the economic development and chamber
were working on other retail growth opportunities in the community.
Louisville sales tax collections were lead by automotive sales and
Sales tax revenue represents about 20 percent of the city’s General
Noxapater also had an increase in sales taxes March 2013 from March
2012. Noxapater had $8,379.37 in sales tax collections in March and
$8,078.24 in March 2012. Noxapater sales were lead by food sales.
Sales Tax is based on gross proceeds of sales or gross income,
depending upon the type of business. Collections received in March
are from January sales.