2008-07-09 / Business

Muni Tax Down 1.85%

Gross receipts from the Archbold municipal income tax are down $42,115.10, or about 1.85%, for 2008 when compared to 2007.

During the Monday night, July 7, Archbold Village Council meeting, council members learned total gross receipts for Jan. 1 through June 30, 2008, were $2,235,156.99, which is down from the same period of 2007. During last year, the January through June gross receipts were $2,277,272.09.

Collections for the month of June 2008 were nearly double that of June 2007. The June 2008 collection was $97,889.49- $44,007.48, or about 81.67%, more than the June 2007 collection of $53,882.01.

So far in 2008, monthly collection figures have failed to top their corresponding monthly figures last year twice; once in February, when the collection was about $91,000 short, and again in May, when the deficit was nearly $120,000.

Village of Archbold
Municipal Income Tax
Receipts
June, 2007 $53,882.01
June, 2008 $97,889.49
Difference ($) +$44,007.48
Difference (%) +81.67%
Year-to-date,
2007 $2,277,272.09
Year-to-date
2008 $2,235,156.99
Difference ($) -$42,115.10
Difference (%) -1.85%
Information provided by Village of Archbold Income Tax Department, as provided to Archbold Village Council; monthly figures represent gross income tax receipts received from the village's 1.5% income tax during the month, plus the same month one year ago; Year-to-date figures are for income tax collected during the indicated years, from Jan. 1 to the end of the month indicated.

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