Local Option Sales tax collections in Smithville took a huge jump in April, compared to the same months the two previous years.
Smithville Mayor Taft Hendrixson says monthly figures released from the Tennessee Department of Revenue show that April 2007 net collections in Smithville came to $136,955, up over $40,000 compared to $94,257 in April 2006, and $95,367 in April 2005.
Mayor Hendrixson says these numbers indicate that Smithville is growing and making progress. With an expanding sales tax base and good management of city resources, Mayor Hendrixson says there is no foreseeable property tax increase on the horizon in the city.
Net collections for the county in April 2007 were $28,376, up from $27,927 in April 2006, but down from $31,523 in April 2005.
The Tennessee Department of Revenue, in the report, notes that normal Local Option Sales Tax collections may fluctuate. This could be due to additional collections on assessments or reductions as a result of taxpayer refunds or returned checks. Should collection amounts increase significantly, it might be the result of an audit assessment.