City 2016 sales tax revenues up 4 percent
Sales tax returns for the city of Homer increased $250,000 or 4 percent over the city’s anticipated tax revenues for its 2016 budget, City Manager Katie Koester wrote in her report for the April 24 Homer City Council meeting. In last year’s budget, the city projected receiving $6.15 million in sales tax revenues but actually received $6.40 million, a $250,000 gain. Those surplus revenues were put in the city general fund. For the 2017 budget, the city projects receiving about $6.5 million, a 5.5 percent increase over the 2016 budget projections. For first-quarter 2017 receipts compared to 2016 first-quarter receipts, revenues are up 1.5 percent.
“If 2017 continues on the trend of up 1.5 percent from 2016, we will hit that mark,” Koester wrote of anticipated 2017 sales tax revenues.