If recent tax revenues are a guage, then economic indicators for Erie County point in the right direction.
Officials collected a record $14.3 million in sales tax this year, according to figures recently finalized by the county’s finance department.
The $14.3 million represents a 4 percent increase compared to sales tax revenue of $13.7 million collected in 2012.
A robust September collection of $1.17 million, about $130,000 more than in September 2012, vaulted Erie County to record revenue.
Sales tax figures are finalized three months after the actual collection. For instance, September’s collection was completed in December, ending the calendar year.
Additionally, the county’s actual collection of $14.3 million this year trumped a 2013 budgeted amount of $14 million predicted earlier this year.
The extra $300,000 should help county officials fund other items and services in the 2014 everyday operating budget, estimated at about $26 million.
Sales tax accounts for more than half of all income going into the county’s budget.
Money derived from sales tax helps pay for various services, including court, sheriff and maintenance operations.
Numerous factors boosted this year’s sales tax figures, including roller coaster GateKeeper debuting at Cedar Point and new attractions at Ohio Bike Week.
“It signifies a continuation of the uptick in the economy,” Erie County commissioner Bill Monaghan said. “The past six months have been a continual rise in what we have predicted”