Although COVID-19 has had devastating economic effects on cities like Nashville with reduced sales tax collections, there’s been a near polar-opposite effect at the local level.
The Finance Committee reviewed the most recent sales tax figures released from the state, and Franklin County has $406,486 more in additional revenue compared to a year ago.
With the June figures being just released, Franklin County had $6.406 million in local-option sales tax receipts for the 2019-20 fiscal year totals, compared to $5.999 million for the same period a year before.
The sales tax receipts for the month of June were up $24,623 from the same month a year before — $588,084 compared to $563,461.
Finance Director Andrea Smith summed up her outlook.
“I think it looks great,” she said.
County Mayor David Alexander said he had just met with elected officials from neighboring counties to discuss financial issues, and their reports were similar to what has occurred in Franklin County.
“They are experiencing the same situation,” he said. “Their sales tax revenue is ahead of last year … We’re thankful for that.”