Both Coldwater and Senatobia reaped the benefits of a strong October with significant increases in sales tax collections.
According to statistics from the Mississippi Department of Revenue (MDOR), both municipalities remain steady and consistent in revenue through the first four months of the fiscal year which started at the beginning of July.
Coldwater sales tax collections were up 25.4% in October with the town gathering $46,351 compared to $34,600 in October 2024. The town has collected $176,515 this fiscal year – a 17.5% increase from the total of $145,668 during the first four months of FY2024.
Senatobia’s revenue was up 4.6% in October as it gathered $257,844 compared to $246,211 in October 2024. The city has collected 4.7% more in sales taxes in FY25 than it did over the first four months of 2024.
MDOR operates on a fiscal year beginning July 1st and ends June 30th. Statewide sales tax collections are based on a three-month cycle. Checks disbursed in October by MDOR were from revenue obtained in August and taxes paid to the state in September.
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.
