Politics & Government
Geneva Sales Tax Revenue Up for First Three Months of Fiscal Year
Geneva sales tax revenues continue a modest but comforting increase and are even beating out city projections for the first three months of the 2012-13 fiscal year.
When you look at city of Geneva sales-tax figures, you always have to do a little bit of mental gymnastics, but the exercise this year is proving productive.
The city's sales tax revenues for the first three months of the 2012-13 fiscal year are healthy—growing year over year and exceding the city's budget estimates. That's good news for the city, of course, and for the local economy, as well.
According to city of Geneva reports, sales tax revenue collected in May, June and July are up by 13.37 percent, 7.95 percent and 4.38 percent, respectively.
Find out what's happening in Genevawith free, real-time updates from Patch.
Those three months represent actual sales during the months of February, March and April.
The total year-over-year dollar amount isn't going to make a huge dent in the city's budget, but every little bit helps. Sales taxes collected for those three months total $94,707 more than the same three months in FY 2011-12.
Find out what's happening in Genevawith free, real-time updates from Patch.
The three months' total is $86,000 more than the city's budget estimates.
The sales taxes collected this month (which represent April sales) are up from $354,854 in 2011-12 to $386,094 in 2012-13, according to charts presented in the city of Geneva packet.
