During the August meeting of the Warren City Council, the council members were updated on the status of the City’s monthly and annual sales tax revenues. Sales tax receipts are usually a reflection of the health of the local economy. Many factors determine why sales taxes are up or down, but it is a key component watched closely by city and state officials.
The Council was informed that sales tax revenue received in August was slightly down from July, but remains up 10 percent for the year 2022 over 2021. Likewise, the City share of the county sales tax was slightly down for August compared to July. It is up 8 percent for 2022 over 2021. It is important to understand that the sales tax funds received each month consists of money collected two months earlier. August revenues were collected in June.
Warren’s sales tax was approved by the voters of the city in 1994 and has been used to build the city’s baseball/softball complex and extensively to construct industrial facilities for business development efforts as well as for police and fire improvements.