York’s end-of-fiscal-year sales tax total exceeds $5 million for first time in history

YORK – York residents approved a local city sales tax in 1998. Year-end totals fluxed up and down over the years, with the numbers really picking up speed in the last few.

As of Monday, the city’s fiscal year-end totals showed what was taken in during the 2022-23 fiscal period and the total amount of sales tax went over $5 million for the first time in the city’s sales tax history.

The fiscal year-end total was $5,178,910.40. That is nearly $700,000 more than what was taken in during the 2021-22 fiscal year.

For the month of September – the last month in the city’s fiscal year – the city took in $424,043.72.

In the years prior to 2020, the city typically took in about $3.5 million a year. That grew to more than $4 million the next two years and this year’s total is obviously far ahead of where it had ever been before.

Some reasons can be attributed to inflation, more local economic activity and the fact local tax is now collected for online sales.

Each monthly figure reflects transactions which took place two months prior.

The 2023-24 fiscal year will start October 1.

Regarding the city’s LB 357 funds, the city took in $1.7 million in the 2022-23 fiscal year – just from the extra ½-cent sales tax, which was $231,283 more than the year before.

 

 

 

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