Local Option Sales Taxes in Jackson County were up in 2010 by 4.25 percent over 2009, an increase of $213,600.
That amount was about one-percent above the county’s budget and totaled $5.25 million on the year.
In addition, SPLOST taxes were also up in 2010 over 2009 at $8.4 million compared to $8.08 million.
Sales taxes are a key source of revenue for many local governments and they are also watched as a general economic indicator of the local economy. In 2009, both LOST and SPLOST were at their lowest levels in years due to the overall economic downturn. Growth in the taxes indicates more consumer spending took place in 2010 than in 2009.
But the 2010 totals are still far below their peak. In 2007, the county took in $6.32 million in LOST, some 20.5 percent more than last year’s total.
Likewise, SPLOST is down over 20 percent from its peak of $10.1 million in 2007.
For more on this story, see the March 2 issue of The Jackson Herald.