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Business

City sales tax receipts set new record

Albion’s city sales tax receipts set a new monthly record in March, 2008.

The city received $53,262.99 in sales tax for March 2008 sales, which surpasses the previous record of $45,656 recorded in December, 2006. Sales tax receipts for the same period a year earlier (March, 2007) were $37,078.50.

“This reflects a very good month of retail sales for our local businesses and appears to be a positive indicator for the future of our local economy,” City Administrator Andrew Devine said.

Total year-to-date sales tax receipts for the period of October 2007 to March 2008 are $355,089.58 This figure is 8.27 percent higher than receipts for the same period a year earlier.

The city sales tax is used to fund the Albion Economic Development Plan, the water tower loan, various street improvement projects – past and present, and the Albion Fire Hall construction project.