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Albion city sales tax receipts set another record

Albion city sales tax trend chart prepared by City Administrator Andrew Devine.
Albion city sales tax trend chart prepared by City Administrator Andrew Devine.
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.