Albion had more than $60,000 in city sales tax receipts for July 2017, pushing the total receipts for 2016-17 to $717,201 — another new record.
City sales tax receipts for 2016-17 were $9,759 more than the previous fiscal year total of $707,442. The year-to-year increase was 1.4 percent.
July 2017 sales tax receipts of $60,022 were up about $1,400 or about two percent from the previous July.
Albion had five months in the 2016-17 fiscal year when tax receipts declined, but sales finished the year strong with increases in each of the final four months (April through July)
This marked the fourth consecutive year-to-year increase in city sales tax receipts since 2012-13.
Motor vehicle sales tax receipts for July were $2,832, off by $2,578 from the June motor vehicle sales tax total of $5,410.
Motor vehicle sales tax for the full fiscal year totaled $53,501, all of which is committed to the Street Fund.
All other sales tax revenues are allocated based on a formula approved by taxpayers.
Following is the sales tax allocation for the complete 2016-17 fiscal year:
•?Capital Improvements ($0.0075), $367,467
•?Economic Development ($0.0025), $75,000
•?Pool Bond ($0.0025), $110,617
• Fire Department ($0.0015), $66,370
•?Police Department ($0.0005), $22,123
•?City Hall ($0.00025), $11,062
•?Library ($0.00025), $11,062.
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