Sales tax revenue down in Laurel - WDAM-TV 7-News, Weather, Sports-Hattiesburg, MS

Sales tax revenue down in Laurel

Breakdown of revenue from FY 2013-2014 to this fiscal year Breakdown of revenue from FY 2013-2014 to this fiscal year
LAUREL, MS (WDAM) -

The city of Laurel's sales tax revenue is down $103,004 compared to this time in 2014, according to Mayor Johnny Magee.

Magee said the drop is impacted by the number of layoffs in the oil industry, which employs a large number of people in the Laurel area.

"I call that a crisis for Laurel because when you lay off 100 people at one place... you worry about your basics," Magee said. 

The mayor said the city budgeted $9.7 million in sales tax revenue for this fiscal year, but he expects the city to bring in only $9.3 million.

"We are watching it closely," Magee said. "We have budgeted less next year than we did this year, and we have to work with what we have."

The city recently passed an ad valorem tax increase to help with street repairs, but Magee said a higher sales tax revenue would not have prevented that tax increase.

The sales tax revenue goes into the city's general fund.

To see a breakdown of revenue from FY 2013-2014 to this fiscal year, view the photo in the story's sidebar.

Copyright 2015 WDAM. All rights reserved.

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