Local sales tax collections continue to withstand the challenges of COVID-19.
Funds returned to the city at mid-March set a new high mark for the month and increased the consecutive run of monthly increases to nine. The month’s total, at $530,775.42, rose by 10.6 percent, or approximately $50,900, from a year earlier. The month’s results reflect sales activity that occurred in local businesses during January.
Numbers were similarly good around the state at the midpoint of the fiscal year, with double-digit percentage increases common. Across Mississippi as a whole, collections rose 11.9 percent, and 11 of a dozen area municipalities posted gains.
The city’s March result bettered the average over the past five years of $432,241.58 by almost $100,000. For the fiscal year to date, the cumulative total goes to $3,408,783.92, rising 6.1 percent, or about $197,300, from the prior year.
Special taxes, such as tourism taxes, trended back toward the black for the latest reported month after going into the red in the prior month. The 2 percent tourism tax on restaurants and hotels in Corinth yielded $112,524, rising 5.2 percent from a year earlier. Statewide, collections rose 2 percent.
While not performing as strongly as the sales tax, the special taxes have been nearing normal levels after suffering a slump during the earlier pandemic months.
Other sales tax results from the region:
Booneville – $176,576.75 (+17 percent)
Burnsville – $14,095.30 (+7 percent)
Farmington – $2,943.18 (-48 percent)
Glen – $4,710.70 (+27 percent)
Iuka – $80,330.29 (+21 percent)
Kossuth – $4,463.38 (+41 percent)
Rienzi – $3,557.02 (+6 percent)
Ripley – $43,543.76 (+26 percent)
Tishomingo – $14,210.93 (+35 percent)
Tupelo – $1,776,373.29 (+10 percent)
Walnut – $24,407.67 (+24 percent)