When City Treasurer Jeanie Skeen reported Newcastle’s monthly sales tax returns, she noted that they were 12.7% higher than expected, and 8% higher at this time than the same time last year.
Newcastle had a total of $928,000 in returns to the City in the October State Tax Commission report. Of that, $790,000 was sales tax, and the remaining $138,000 was use tax.
Because of the City’s conservative estimating and budgeting, the returns came in higher than what was budgeted.
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