Coldwater saw a slight boost in June sales tax collections while saw a significant drop, according to statistics from the Mississippi Department of Revenue.
Data shows Coldwater revenue was up 1.5% in June. The town collected $36,370 compared to $35,56 in June 2023. Coldwater is ahead 5.1% in overall sales tax collections this fiscal year by gathering $418,475, a jump from $397,537 in 2023.
Senatobia revenue was down 6.5% in June. The city collected $253,118 compared to $270,516 in June 2023. Senatobia remains ahead 0.3% in overall revenue this fiscal year by gathering $2,982,169, a jump from $2,976,192 in 2023.
Statewide sales tax collections are based on a three-month cycle. Checks disbursed in June by MDOR were from sales made in April and taxes paid to the state in May.
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.
