Coldwater sales tax collections rebounded in December while Senatobia revenue dipped for the second consecutive month, according to statistics from Mississippi Department of Revenue.
Data from MDOR shows Coldwater collected $35,698 in December 2023, compared to $30,148 in December 2022 for an increase of 15.6%. Coldwater has collected $216,992 this fiscal year, 2.9% above what it gathered in 2022.
Senatobia revenue dipped 11% when compared to the previous year’s numbers. The city collected $243,605 in December 2023, a decrease from the $273,712 in collected in December 2022. Senatobia is slightly behind in overall revenue this fiscal year collecting $1,444,967, compared to $1,472,386 for a drop of 1.9%.
Statewide sales tax collections are based on a three-month cycle. Checks disbursed in December by the Mississippi Department of Revenue were from sales made in October and taxes paid to the state in November.
Sales tax is collected on local purchases and submitted monthly to MDOR before it is paid to cities. Sales tax receipts paid to cities are a direct result of money spent by consumers in those municipalities.
