Sales tax collections in Senatobia and Coldwater increased in September, according to data from the Mississippi Department of Revenue.
Senatobia enjoyed a boost in revenue for the third consecutive month in September, collecting $251,084 compared to $237,500 in September 2022 for a hike of 5.5%. The city has amassed $754,316 in sales tax collections during the first three months of the new fiscal year which began July 1, a jump of 7.3% above what it totaled in that time frame last year.
Coldwater revenue rebounded in September to snap a two-month streak decrease in sales tax collections. The town collected $35,686 in September, compared to $28,274 in September 2022 for a boost of 20.8%. Coldwater is ahead in overall revenue by 5.1% this fiscal year collecting $109,832 compared to $104,427 in 2002.
Statewide sales tax collections are based on a three-month cycle. Checks disbursed in September by the Mississippi Department of Revenue were from sales made in July and taxes paid to the state in August 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.
Statewide revenue divided among Mississippi municipalities in September 2023 totaled $48,886,119 compared to $45,884,375 in September of last year for an increase of 6.2%.
