OC Tax numbers down
The first two months of McCreary County Occupational Tax collections were slightly behind last year’s numbers, but ahead of the same two-month period in the three years prior.
July numbers were significantly below the average, due mainly to late reports from several businesses due to the allowed grace period for end of the month statements.
August numbers were above average, as those late payments were received in the first few days of the new month.
For the month of July a total of $75,321.16 was added to the General Fund as a result of collections for the month.
That total is down more than 50 percent from last year when $151,192 was collected – the highest total over the past four Julys. In 2014 $140,127 was collected, July 2013 saw $139,271 brought in, and July 2012 had collections totaling $139,737.
August collections totaled just over $160,000, about $55,000 more than in 2015.
But, the higher-than usual August receipts still don’t make up for the difference as the July/August collections fall about $20,000 below what was collected over the same 2-month period last year, but well-above the totals for the previous three years.
July and August receipts combined totaled $235,560 this year. For the 2-15-16 fiscal year just over $256,000 was added to the General Fund for the same period. For the same period in the prior three fiscal years, an average of about $187,000 was collected.
When looking at Occupational Tax history over the past four fiscal years, September numbers traditionally show a marked decrease – averaging only about $12,000 for the month. In fact, last year’s September collections skew the data as $28,000 was brought in, while the previous three years saw only about $7,000 collected each of those three months.
If those numbers hold true to average, the first quarter collections for the McCreary County Occupational Tax would amount to about $247,000 – which would be behind last years’ pace, but ahead of the first quarters for the previous three years.