Sales and property tax collections falling short in McComb
MCCOMB, Miss. (AP) — A Mississippi mayor says officials might have to consider raising tax rates or cutting spending because the city’s tax collections are dropping.
The Enterprise-Journal reports that McComb Mayor Quordiniah Lockley gave a financial update last week to the Board of Selectmen.
Lockley said sales tax collections for March totaled just $268,000. That is down from the $411,000 the city received in March 2018.
With other shortfalls before March, McComb is now about $250,000 behind on projected sales tax collections for the budget year to date.
Property taxes collections are also down, standing at $5.6 million for the year. Lockley said those taxes to this point in 2018 brought $6.1 million, meaning the city is down about $500,000 in those revenues.
McComb, in southwestern Mississippi, has a population of about 12,800.
Information from: Enterprise-Journal, http://www.enterprise-journal.com