Both Counties reporting increased sales tax revenues for 2021

At Thursday’s Eggs and Issues Breakfast sponsored by the Eastern Shore of Virginia Chamber of Commerce,  Both Board of Supervisors Chairmen stated that sales tax revenues to date for FY21 are approaching record numbers.   Northampton Director of Finance John Chandler said that the FY 20 sales tax revenue figures for the first three quarters totaled 1,194,406..  The FY 21 figures to date are currently $1,194,406 an increase of $22,796 or 23%.

Accomack reported record collections in FY 21 as well. Sales tax revenues for the first three quarters in FY20 totaled $3,465,258. In FY 20 the total for the first 3 quarters was $3,252,874.

Governor Northam’s stay at home order in 2020 had a downward effect on local sales tax revenue but the trend started to reverse itself in the Fall.  Also, the new policy of collecting sales tax on internet purchases also contributed to the increase this year.

If collections continue to increase over the fourth quarter both counties could see record sales tax revenues for FY21.

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