Sales tax receipts in Trenton, designated for general purposes, capital projects, parks, transportation, and fire department needs, are mirroring figures from the previous year. A comparison of the first five months of Trenton’s current fiscal year, spanning May through September, to the same period a year ago reveals nearly identical numbers.
This observation is noteworthy, especially given the United States’ inflation rate over the past five months, which stood at 1.5%. This is a decrease from the 3.7% inflation rate recorded for the year ending in August.
A breakdown of Trenton’s sales tax receipts for this fiscal year is as follows:
- General purposes: Over $384,000
- Capital projects: $192,000
- Parks: $177,000
- Transportation: Nearly $133,000
- Fire department needs: More than $88,000
In addition to the sales tax, Trenton also benefits from a local use tax. This tax has generated over $178,000 in revenue during the first five months of the current city fiscal year. This marks a significant increase from the previous year, with the income from the local use tax rising by more than $64,000 compared to the same period a year ago.
