The City of Jamestown brought in 18.5% more sales tax revenue than had been budgeted in 2021.
Comptroller Ryan Thompson will give an update on fourth quarter sales tax payments to City Council tonight. In the report he filed, the fourth quarter payment for 2021 totaled $1,893,274. This was a 6% increase, or $113,106, over fourth quarter of 2020 and a 13.8% increase, or $229,831, above 2019.
The City’s adopted sales tax budget for 2021 was $6,713,792 with actual collections totaling $7,958,124. That represents a 18.5% increase. In comparison to 2020, the city received 4.8% more than what was budgeted for sales tax.
Thompson said the first quarter 2022 payment will be received in May 2022.
Therefore, property taxes should be REDUCED.