Cookeville – The October sales tax revenue, which is the tax collected in the month of August but not turned into the state until September, is trending upward with collections up 7.3% county wide compared to that same month last year. Putnam County saw the largest growth at 24.1%.
Monterey increased by 15% while Cookeville grew 6.4% and Baxter increased 4.9%. Algood decreased 8.4% while Monterey grew 15%. Total combined collections was up 7.3%. During the first four months of the fiscal year, Putnam County averaged 11.2% growth. That number is compared to last year during the same months.
“We know some of this continues to be due to inflation,” said Putnam County Mayor Randy Porter, “but Putnam County is also the “retail hub” for the region, and our population continues to grow.”
These numbers are the total after the state takes a 1.125% collection fee:
The month-by-month comparison for the current fiscal year is below:
Numbers provided by Putnam County Mayor Randy Porter.