UPPER CUMBERLAND – State sales tax collections improved by a modest 3.8 percent in the Upper Cumberland in the month of August as four counties outpaced the state’s gain of 8.3.
White (27.7), Pickett (17.6), Cannon (10.9) and Macon (8.7) led the region while dips were recorded in four others, including Fentress (-37.1), Van Buren (-19.8), Jackson (-9.8) and Warren (-4.8). The region’s two largest collectors, Putnam and Cumberland, respectively, saw increases of 7.5 and 4.0 percent. Rounding out the UC were Overton (8.0), Smith (7.3), Clay (7.0) and DeKalb (5.9).
The Upper Cumberland has had healthy year-over-year numbers; collections are up 6.0 percent for a 12-month period. The state of Tennessee, comparatively, has seen a 6.3 percent increase during the same time. Its increase of 8.3 percent in August was its highest since May, when collections improved 9.1 percent from the previous year.
State officials, while encouraged by the August numbers, are still concerned about the global economy and say it’s important to maintain close control on spending. On an accrual basis, August is the first month in the 2015-2016 fiscal year.
Collections, which are considered just one measure of economic activity, are based on state sales taxes; local option taxes are excluded. Sales data lags by one month; for example, August numbers reflect July activity.
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Source: Compiled by the Upper Cumberland Development District from data published by the Tennessee Department of Revenue.