Digital Access

Digital Access
Access saukvalley.com from all your digital devices and receive breaking news and updates from around the area.

Home Delivery

Home Delivery
Local news, prep sports, Chicago sports, local and regional entertainment, business, home and lifestyle, food, classified and more! News you use every day! Daily, Daily including the e-Edition or e-Edition only.

Text Alerts

Text Alerts
Choose your news! Select the text alerts you want to receive: breaking news, prep sports scores, school closings, weather, and more. Text alerts are a free service from SaukValley.com, but text rates may apply.

Email Newsletters

Email Newsletters
We'll deliver news & updates to your inbox. Sign up for free e-newsletters today.
Local

Sales tax a bigger piece of the financial pie charts

Dixon’s sales tax revenue has been increasing, and the mayor wants to keep the momentum going

DIXON – Overall sales tax generated in the city is up nearly $1 million from a decade ago, and the mayor wants to take a closer look at the numbers in Dixon and surrounding cities to help continue the upward trend.

City officials have been talking about the importance of boosting sales tax revenue for years as it has the most potential for growth – the city can't make bigger hikes to property taxes like other communities because Lee County is capped under the Property Tax Extension Limitation Law, which means increases are usually restricted to the percent of inflation.

The goal is becoming more prevalent as pension obligation costs continue to increase and take a bigger bite out of city revenues, leaving less for capital projects and infrastructure work.

Growing sales tax revenue is tied to growing economic development and tourism by adding more businesses and opportunities that bring in visitors who spend money in Dixon.

Sales tax revenue from fiscal year 2018 was just north of $3.4 million, about 4 percent higher than FY17.

Mayor Li Arellano Jr. said greater investments the city has made with attracting or expanding businesses as well as increasing cultural and tourism events are paying off with larger sales revenue numbers across the last few years, but the city needs to target more ways to keep the momentum going.

City Finance Director Becky Fredericks recently compiled sales tax data for the last decade, and Arellano said the next step is to research sales tax trends for other area cities, compare them with Dixon, and take a look at what other communities are investing in.

BY THE NUMBERS

Fiscal year, Total sales tax revenue generated

2008 – $2,458,223

2009 – $2,461,444

2010 – $2,472,868

2011 – $2,487,027

2012 – $2,842,985

2013 – $2,840,843

2014 – $3,038,555

2015 – $3,166,181

2016 – $3,176,287

2017 – $3,281,740

2018 – $3,412,232

*Numbers provided by City of Dixon

Loading more