Saturday, May 16, 2020

Surprise: Sales Tax Revenue Tanks


Jackson, Flowood, and Ridgeland took a beating on sales tax revenue during March when the Covid-19 shutdown was in full swing.  However, not all Jackson metro area cities lost money as several reported increases in sales tax revenue at the same time.  Check out how they did for March:


Jackson: -$431,848
Flowood: -$202,352
Ridgeland: -$117,363
Brandon: -$40,314
Clinton: -6,062
Madison: -3,439

Byram: $5,890
Canton: $16,040
Pearl: $21,959

Jackson, Flowood, and Ridgeland are not surprising as they have the most retail businesses.  Ridgeland has Renaissance and Northpark s while Flowood has Dogwood Festival.   It is probably a safe bet to say that Jackson derives more sales tax revenue from meals and entertainment than the other cities do.  What is interesting is the two cities that have Sam's Clubs did fairly well.  Pearl enjoyed a nice surplus while Madison nearly broke even.

Meanwhile,  most Jackson metro area cities are raking in less sales tax revenue for the year compared to last year. Pearl and Madison are the only ones showing nice gains while Flowood and Jackson are receiving much less than they were a year ago.  However, Flowood, Ridgeland, and Brandon would probably be in the black if not for the March shutdowns. 

Pearl: $672,230
Madison: $311,747

Canton:  -$48,438
Clinton: -$88,118
Byram: -$591,527
Brandon: -$65,555
Ridgeland: -$69,530
Flowood: -$157,449
Jackson: -$772,198


 Here is the data.

Pearl
March 2020: $939,815
March 2019: $917,856
Difference: $21,959

YTD 2020: $9.0 million
YTD 2019: $8.4 million
Difference: $672,230


Canton
March 2020: $278,574
March 2019: $262,534
Difference: $16,040

YTD 2020: $2.431 million
YTD 2019: $2.479 million
Difference: -$48,438

Byram
March 2020: $271,251
March 2019: $265,361
Difference: $5,890

YTD 2020: $2.520 million
YTD 2019: $3.11 million
Difference: -$591,527

Madison
March 2020: $757,092
March 2019: $760,531
Difference: -$3,439

YTD 2020: $7.7 million
YTD 2019: $7.4 million
Difference: $311,747

Clinton
March 2020: $423,660
March 2019: $429,722
Difference: -6,062

YTD 2020: $3.990 million
YTD 2019: $4.078 million
Difference: -$88,118

Brandon
March 2020: $491,810
March 2019: $532,124
Difference: -$40,314

YTD 2020: $4.907 million
YTD 2019: $4.972 million
Difference: -$65,555

Ridgeland
March 2020: $1,084,566
March 2019: $1,201,929
Difference:  -$117,363

YTD 2020: $11.1 million
YTD 2019: $11.2 million
Difference:  -$69,530
 
Flowood
March 2020: $879,603
March 2019: $1,081,955
Difference: $202,352

YTD 2020: $10.052 million
YTD 2019: $10.210 million
Difference:  -$157,449

Jackson
March 2020: $2,126,826
March 2019: $2,558,674
Difference: -$431,848

YTD 2020: $22.6 million
YTD 2019: $23.4 million
Difference: -$772,198



17 comments:

Anonymous said...

there's a lot of vacant stuff in flowood and the dogwood area now....give it 10 years and its the new county line road..

Anonymous said...

Lakeland will look like I-55 in Jackson after all this is done. This is why you don’t cram as much retail as possible in tight spaces. Madison didn’t do that and they look like they will be ok. Flowood on the other hand not so much.

Anonymous said...

I've lost quite a bit over the last month, but the same thing happened with my long term investments back in 2008.

Long story short, I can still buy a lawn mower.

Anonymous said...

What is really taking a beating is the "tourism taxes" which pay for everything from golf courses and Jackson's Convention Center to ball parks and on and on an on. Vicksburg has a sports complex and Carthage has baseball. Hope they can make the bond payments.

Anonymous said...

Does this include the extra 2% in Jackson?

By the way, pretty easy to figure out to go to outside city limits to purchase something where that could make a difference. Fortunately, most retailers have shut down their redundant locations in Jackson city limits - Academy, Best Buy, etc. - to make this easy for the consumer.

Anonymous said...

How did they finance that convention center in Rankin and the massive upgrade to the Refuge golf course? Whatever tax revenues come in will get soaked up by that brain fart because no conventions are headed to Rankin county for a while.

Anonymous said...

What impact does this have on TIF bonds? I'm looking at you, Gene McGee.

Anonymous said...

"This is why you don’t cram as much retail as possible in tight spaces. Madison didn’t do that and they look like they will be ok. Flowood on the other hand not so much."

Gluckstadt isn't mentioned. It's fast becoming the next Pearl. Give it a drive-by.

Anonymous said...

Gluckstadt isn't a city officially just yet. Still got that pesky lawsuit to deal with.

Anonymous said...

How is this a surprise to anyone? When you close things down, there is no tax revenue, except for property owners and those who are net contributors to the economy.

Anonymous said...

Gluckstadt has become a haven of cheap pre engineered metal buildings. Some people call them Steel Buildings. Yes, they are affordable, but not what you would want for a substantial structure. There IS a difference between a real steel building and metal buildings. The pre engineered “metal” buildings are cost efficient to build but age like a woman who has had bad plastic surgery and needs new procedures every few years. Pearl used to be called the trailer trash capital of Mississippi. Shall we call Gluckstadt the metal building capital of Mississippi? Cheap

Anonymous said...

Flowood chose this route when they decided to incorporate all the businesses up and down Lakeland/25 and ignored the residential tax base.

Anonymous said...

I have long felt that retail was overbuilt at the corner of Lakeland Drive and Old Fannin Road in Flowood. I wish that the Market Street shopping development had not been built. I only go to Kroger and PetSmart regularly. Probably go to Target and Lowe's about four times per year. The residential development behind Dogwood Festival and Market Street will also probably be a flop.

Anonymous said...

12:46 If Gene McGee is true to history, if there is a short fall in the special revenue,TIF, bonds, Ridgeland will make up the short fall with general revenue funds. While this is illegal, Ridgeland did it on County Line Road with the blind eye knowledge of the state auditor & attorney general. People talk about the incompetence of the City Of Jackson need to look at the City of Ridgeland. One is black the other white, but they like the green.

Anonymous said...

Where is the Rankin Convention Center?

We have Gerald Steen and David Bishop to thank for the disaster that will be Gluckstadt, Mississippi. Our aldermen will never be able to reverse this crap they allowed. A curb-cut every 34 feet for miles. But, Mac Haik has the tallest flag poles in the Southeastern U.S.

Anonymous said...

ahhh.. 4:15, contraire - you need to check those against Doug White/Capitol Body Shop's on the Loop just behind them... bigger, plus, his is lighted, theirs is not.

Anonymous said...

And to think, I remember when Gluckstadt was a remote little hamlet with a cool German festival every Fall.

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If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

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