Trenton City Sales Tax Receipts are down 2.1 percent for general purposes and capital projects and down over three percent for parks, transportation, and fire department needs. The figures are for the first three months of Trenton’s fiscal year compared to the same period a year ago. Those months are May through July.
In dollar figures, the city sales tax for general purposes has produced over $219,000, the capital projects tax has generated nearly $110,000, receipts from the parks tax are nearly $99,000, the transportation tax has produced nearly $74,000, and the tax for fire department needs has generated over $49,000 in the first three months of Trenton’s fiscal year.
Trenton also has a local use tax that’s produced nearly $87,000 in the first three months of Trenton’s fiscal year. Local use tax receipts are up over six percent compared to the same time period a year ago.
Income from the city sales tax for fire department needs began to be received in November of 2016. Since then, those receipts total more than $1,236,000. The money is to be used for fire department equipment, training, and services.
Income from Trenton’s transportation tax totals over $1,582,000 since those receipts began to be received in November of 2017. The money is to be used first for Trenton’s share of the 17th Street Bridge replacement project. Once those payments are completed, funds from the transportation tax can be used for other street work in Trenton. The last scheduled payment for the bridge project is May 2028.
Receipts from Trenton’s local use tax began to be received in September of 2021. Since then, the local use tax has generated nearly $478,000.
We mentioned earlier that Trenton City Sales Tax Receipts are down 2.1 percent for general purposes and capital projects and down over three percent for parks, transportation, and fire department needs in the first three months of Trenton’s fiscal year compared to the same period a year ago.
The United States inflation rate was three percent for the year ending in June. However, it was around three-tenths of one percent in the two-month period ending in June.
