Numbers Crunch: Year-end sales tax tally shows impact of recession
The Arizona Department of Revenue has released the year-end sales tax revenue totals for fiscal 2007-08.
Sedona was the only community in the Verde Valley to show a gain for the year in total sales tax collections.
Camp Verde was the only town to show a gain in retail tax and total tax collections for June compared with the same month last year.
Camp Verde's retail sales tax revenue hit $90,893 for June, an increase over last June's $82,484. Total sales tax collections also climbed from $218,720 for June of 07 to $244,107 for June of 08.
Fiscal year totals, however, weren't as encouraging for Camp Verde. Retail sales tax was $898,918 for the year, compared with $1,068,282 for last year. Total sales tax collections for the year dropped from $2,706,405 last year to $2,457,285 for this year.
Cottonwood saw a drop in sales tax revenue for June and for the fiscal year. Retail tax was down in June to $450,460 compared with $543,404 for last June. Total sales tax collections for June also were down with $737,371 collected this year against $881,857 collected last June.
Year-end totals tell the same story for Cottonwood. Retail sales tax for the fiscal year just finished was $6,113,763, down from last year's $6,821,270. This year's total sales tax revenue was $9,911,065, a drop from last year's $10,248,166.
Clarkdale also was down in June collections and year-end totals. June retail sales tax was $5,088 compared with $5,289 for the same month last year. Total sales tax revenue in June was $62,454, down from $73,120 for June 07.
Clarkdale's total retail sales tax collections for the fiscal year were $60,061, a drop from $67,322 in the previous year. The total sales tax revenue for fiscal year 08 was $891,512 compared with $1,357,111 for 2007.
Jerome also took a sales tax hit for the month of June and for the fiscal year. Retail tax collected in June was $18,807, a drop from $20,650 in June 2007. It's the same story with total sales tax collections. June 08 was $47,181 compared with $53,648 for June 07.
Fiscal year totals also are down for Jerome. Retail sales tax dropped from $216,581 in 2007 to $212,761 for 2008. Total sales tax revenues for fiscal year 08 were $507,224, down from $525,459 in 07.
Sedona saw an increase in total sales tax for the fiscal year, but was down for June compared with the same month last year.
Retail sales tax for June 08 was $280,520. That's down from $341,115 for June 07. Total sales tax revenue also dropped for June from $1,415,780 last year to $1,309,472 for this year.
Total retail sales tax for the fiscal year was down in Sedona to $3,509,857 from last year's $3,604,876. But Sedona had a sales tax bright spot with its total sales tax revenue of $14,254,478 for fiscal year 2008. That is up from 2007's total sales tax revenue of $14,165,807.
Verde Valley Sales Tax Collections
TownJune 08June 07FY08FY07