UC rebounds from June, collections still stagnant

UPPER CUMBERLAND – The Upper Cumberland saw its state sales tax collections increase by 4.2 percent in the month of July – a nice rebound from a negative return in June – although, overall, the region continues to experience a less than stellar 2016.

July, the most recent month in which data was available, marked the sixth consecutive month the UC has lagged the state in terms of gains; Tennessee saw a 6.0 year-over-year increase.

White County was among the bright spots. Collections there increased by more than $170,000, or 13 percent. Also seeing double-digit increases were Clay (20.7) and Pickett (11.1). They were followed by Macon (7.9), Cumberland (7.4), Cannon (7.0), DeKalb (5.8), Smith (3.1), Putnam (2.0), Fentress (1.2) and Warren (0.4).

Conversely, seeing decreases were Jackson (-4.7) and Overton (-1.1). There was an error in reporting for Van Buren County, and it was excluded from the data.

The Upper Cumberland had a feeble June report – sales tax collections were down 0.5 percent – although that was not its worst report this year. February state sales tax collections dropped 2.9 percent in comparison, and the UC has struggled to maintain any momentum since.

Collections are considered just one measure of economic activity and are based on state sales taxes; local option taxes are excluded. Data lags by one month; for example, July numbers reflect June activity.

 

 

Counties July Year prior Percent change
Cannon $396,911 $371,084 7.0
Clay $333,070 $275,905 20.7
Cumberland $4,775,599 $4,446,598 7.4
DeKalb $1,042,260 $985,529 5.8
Fentress $780,093 $770,683 1.2
Jackson $192,765 $202,377 -4.7
Macon $1,071,413 $992,757 7.9
Overton $948,607 $959,533 -1.1
Pickett $313,352 $282,098 11.1
Putnam $8,622,780 $8,454,580 2.0
Smith $954,193 $925,553 3.1
Van Buren NA NA NA
Warren $2,350,748 $2,341,343 0.4
White $1,474,192 $1,304,156 13.0
UCDD $23,255,983 $22,312,196 4.2
TN $742,662,000 $700,901,000 6.0

 

Source: Compiled by the Upper Cumberland Development District from data published by the Tennessee Department of Revenue.