Chief
05-08-2008, 04:32 AM
http://www.columbian.com/news/localNews/2008/05/05082008_Countys-retail-tax-revenues-not-keeping-pace-with-inflation.cfm
Thursday, May 08, 2008
By MICHAEL ANDERSEN, Columbian Staff Writer
Taxable sales in Clark County rose by a hair in November through January, but rising local inflation ate into their value, county budget officials said Wednesday.
The tiny uptick — 0.2 percent compared with the same period a year before — wasn’t enough to wipe out bad news from last year. For the 12 months ending in January, taxable sales fell 2 percent compared with the same period a year ago.
For consumers in the Portland-Vancouver* metro area, inflation was running 3.9 percent in late 2007. That means money isn’t going as far, either for buyers or the government.
County Finance Director John Ingram told commissioners Wednesday that there was “nothing big and surprising” in the new figures.
In recent months, commissioners have discussed a possible countywide hiring freeze and an end to unbudgeted spending for the rest of 2008. They’re already considering deep cuts to controllable expenditures in 2009 and 2010. Those include one-time purchases, overtime and other costs.
The county’s general-fund revenue from sales taxes was $3,656,607 in the first quarter of 2008. That came from sales in November through January. In the first quarter of 2007, revenue was $3,649,719.
The figures include use taxes on purchases in Oregon and elsewhere.
Sales taxes account for about 10 percent of the county’s external revenue.
With the building slowdown expected to slow the growth of the county’s property tax take for the next few years, the county’s overall financial situation remains tight.
“It’s nothing very encouraging, but it’s not really surprising,” Ingram said.
This only serves to prove my point that the Sales Tax is likely the least reliable means to pay for anything, including Loot Rail...
8)
Thursday, May 08, 2008
By MICHAEL ANDERSEN, Columbian Staff Writer
Taxable sales in Clark County rose by a hair in November through January, but rising local inflation ate into their value, county budget officials said Wednesday.
The tiny uptick — 0.2 percent compared with the same period a year before — wasn’t enough to wipe out bad news from last year. For the 12 months ending in January, taxable sales fell 2 percent compared with the same period a year ago.
For consumers in the Portland-Vancouver* metro area, inflation was running 3.9 percent in late 2007. That means money isn’t going as far, either for buyers or the government.
County Finance Director John Ingram told commissioners Wednesday that there was “nothing big and surprising” in the new figures.
In recent months, commissioners have discussed a possible countywide hiring freeze and an end to unbudgeted spending for the rest of 2008. They’re already considering deep cuts to controllable expenditures in 2009 and 2010. Those include one-time purchases, overtime and other costs.
The county’s general-fund revenue from sales taxes was $3,656,607 in the first quarter of 2008. That came from sales in November through January. In the first quarter of 2007, revenue was $3,649,719.
The figures include use taxes on purchases in Oregon and elsewhere.
Sales taxes account for about 10 percent of the county’s external revenue.
With the building slowdown expected to slow the growth of the county’s property tax take for the next few years, the county’s overall financial situation remains tight.
“It’s nothing very encouraging, but it’s not really surprising,” Ingram said.
This only serves to prove my point that the Sales Tax is likely the least reliable means to pay for anything, including Loot Rail...
8)