Grand Junction tax revenue begins trend upward in 2011
Grand Junction city sales tax collection for February rose slightly compared with the same month in 2010.
The biggest gain came in the use tax component of sales tax revenue. Use taxes generally are levied on items purchased or used by the energy sector.
“It’s moving in the right direction,” said Jodi Romero, Grand Junction’s financial operations manager. “Our 2010 sales tax revenues were historically low, so we can only hope that goes up because we were so low.”
The sales tax component of revenue, which comes mostly from retail sales, came to $2.7 million in February. Overall sales and use tax revenue came to $3.7 million, which increased from $3.2 million in February 2010.
This year is shaping up to be more lucrative than last for city coffers. Sales and use tax collection in January and February was $8.7 million, compared with $7.6 million during the same time last year.