Cortland County Sales Tax Collections up 2.5% in 2013
Friday, January 17, 2014
Cortland County saw a 2.5% increase in sales tax collections in 2013, that means for money to help fund local governments and offset property taxes.
In 2013 Cortland County received $27.7 million in sales tax receipts, which is $694 thousand dollars more than what the county had budgeted. The county's share of that comes to $14.3 million with the rest distributed to the City of Cortland and the area towns and villages. The portion sent to the city, towns and villages is reduced to reflect the cost of the county's new emergency radio system.
The county paid $840 thousand dollars last year toward the $16 million dollar project. The county owes about $6 million on the project after recieving millions in grants for the new system. The county is also paying off a $3.4 million dollar bond on the project, the county borrowed the money to build new radio towers.
County Administrator Martin Murphy expects sales tax will grow another 2% this year.
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