Retail spending in EBR rises nearly 14% in May
Aided by Bayou Country Superfest and the U.S. Bowling Congress tournament, sales tax collections in the city and parish were collectively up 13.6% in May compared to the same month last year, according to a report from the city-parish finance department. Figures released this morning show the 2% sales tax dedicated to the city-parish general fund totaled $15.1 million in May, an increase of $1.8 million over May 2011. For the first five months of the year, sales tax receipts have totaled $71.5 million, an increase of 9.2% compared to the same period a year ago. In a prepared statement accompanying today's report, Mayor Kip Holden says additional sales tax collections should be spent on public safety while discussions about next year's budget continue. "The economy is still fragile, and good news doesn't mean there will be a spending spree," Holden says. "We will continue to be responsible and frugal, keeping a tight rein on spending, but public safety will always, always see the first benefit of any additional revenue." Check out the complete May sales tax report and year to date figures here.
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