Business

Albion sales tax receipts set new record

A new record high fiscal year total was finalized last week for Albion city sales and use tax receipts.
During the 2020-21 fiscal year, total city sales tax collections were $748,623, eclipsing the old record of $717,201 set in 2016-17.
This is an increase of $31,422 or 4.4 percent over the previous record receipts.
The fiscal year covers the period of Aug. 1, 2020 to July 31, 2021.
Since sales and use tax is paid for online or internet sales, as well as in-person sales, it is not known how many of the purchases were made at local businesses.
For July 2021, the final month of the fiscal year, receipts totaled $65,205 and were six percent higher than the $61,762 collected in July of 2020. This completed a string of five consecutive months where sales and use tax receipts were higher than the previous fiscal year.