The amount of money generated by the Archbold municipal income tax in March was off by about 18.1%, council learned Monday night, April 5.
Total March taxes were $43,885.45, down $9,675.33 from the same month in 2009.
During February 2010, the collection of $701,407.15 was ahead of the same month a year ago by $51,224.80, or about 7.9%.
So far this year, the village income tax has raised $952,168.11, down $92,522.89, or about 8.9%, from the same three-month period in 2009.
Looking back over the last six years, the March 2010 collection isn’t the worst. That title belongs to March 2006, when the village income tax brought in $33,646.12.
And 2006 was the record high point for money raised by the village income tax in one year. When the final tally was complete, the village collected $4,876,555.99 in income tax revenue.
Between 2005 and 2009, the lowest total collection was in 2009, when the income tax generated $3,667,142.37 in total revenue.
The biggest March monthly collection in the last six years was March 2005, when the tax raised $116,741.77.
The best first-quarter, year-to-date figure is $1,219,661.76, which was recorded at the end of 2009.
The worst first-quarter figure was this year’s $950,000- plus figure.
It is the first time in six years the first quarter total did not top $1 million.
Village of Archbold
Municipal Income Tax
March, 2010 $43,885.45
March, 2009 $53,560.78
Difference ($) -$9,675.33
Difference (%) -18.1%
Difference ($) -$92,522.89
Difference (%) -8.9%
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.