July sales tax collections a picture of Tri-Cities’ recovery struggle


By DON FENEY

Sales tax collections took a July holiday in Northeast Tennessee.

Each of the region’s four MSAs were negative when compared to June, according to totals compiled at the  MTSU Bureau of Economic Research.

TRI 2014 YoY JulyHowever, all but Kingsport-Bristol were better than the same month last year.

It’s another Tri-Cities’ economic recovery tribulations can be seen in the year-over-year sales tax collections. So far this year each of the Tri’s two MSAs have been negative for three of seven months.

At the same time Knoxville has shown steady YoY growth from February forward.

Morristown has seen two negative months, but those were less than a full [point and the last three months have been strong.

The three-county Johnson City MSA collections were up 1.5% compared to July last year. That’s half the rates in Morristown and Knoxville. Both paced the statewide collections rate.

The four-county Kingsport-Bristol MSA was down 0.4% after two months of growth and a June that was a little better than the state rate and almost 4 points better than Knoxville, Morristown and Johnson City.

Here’s how July’s YoY collections looked.

Johnson City – up 1.5%.

Kingsport-Bristol – down 0.4%.

Knoxville –  up 3.1%.

Morristown – up 5.7%.

Tennessee – up 3.2%.

©Don Fenley

 

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