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OC Tax shows strong Janaury

By Greg Bird
birdman@tmcvoice.com

New figures from the McCreary County Occupational Tax Office show the County could be headed toward a near-record collection for the current fiscal year.
According to the report from County Judge Executive Doug Stephens’ Office this week a total of $239,288.97 in tax receipts were collected for the month of January, with $159,525.98 dedicated to the general Fund and $79,762.99 to the Jail fund.
January’s receipts were the highest collection month for the current fiscal year and the seventh highest total since monthly reporting of collections began in January 2013.
In all the General Fund has received $656,053 from the Occupational Tax this fiscal year, the highest seven-month total since the tax was enacted. If the average collection of $93,721 remains consistent, a total of $1.124 million can be projected to be collected for the year. That average may not be accurate as the months of March and April traditionally fall well below that total.
However, in looking at data over the last five years, the final five-month’s collections averaged about $491,000. Both 2017 and 2018 far exceeded that average. By applying the average collection over the previous five periods to the current collections, the Occupational Tax receipts added to the General Fund could amount to $1.147 million for the fiscal year. That amount exceeds all previous years total except for 2016-17, when $1.166 million was collected.
The Jail fund has had a total of $328,026 added to the fund this fiscal year, which projects to about $562,000 for the year.

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