Sales tax income down 9%
As a further sign of just how deep the economic slowdown and housing bust has hit the area, Jackson County reported a nine percent drop in its Local Option Sales Tax income for January. The county received $428,100 in LOST taxes in March for January sales. That compares to $471,400 the county received in January 2007.
Also down were county SPLOST taxes with a drop of 9.7 percent in January. For the month, Jackson County collected $680,800 in SPLOST taxes compared to $754,500 in January 2007. This year’s collection also reflects a 16 percent drop from the all-time high for the month of $814,800 in January 2006.
For all of 2008, Jackson County has a budget of $6.3 million. If the current trend continues, officials say, the county could fall short in LOST income by $1.1 million for the year.
