Johnson City MSA ties Nashville for June’s biggest y-y sales tax collections gain


Johnson City and Kingsport-Bristol swapped places in the year-to-year sales tax collection tracking in June.

June Sales tax

% gain/loss year-over-year seasonally adjusted sales tax collections.

During the past several months Kingsport-Bristol’s year-to-year increases have been among the largest in the state.  In June the three-county Johnson City MSA assumed that position.

According to MTSU’s Business and Economic Research Center, Johnson City tied with Nashville for the highest y-y increase among state MSAs last month with 9.5%.

Kingsport-Bristol’s seasonally adjusted collections dropped back into the middle of the pack with a respectable 5.5% increase.

Combine Johnson City and Kingsport-Bristol and the June Tri-Cities seasonally adjusted collections total $31.7 million. June last year the combined total was $29.5 million.

Compared to other East Tennessee MSAs the Tri-Cities June total is about $7 million less than Chattanooga, a little less than half of Knoxville’s $72.4 million in collections.

Here’s how the year-to-year tacking looked for Northeast Tennessee:

  • Johnson City – up 9.5%.
  • Knoxville – up 7.9%.
  • Morristown – up 6.5%.
  • Kingsport-Bristol – up 5.5%.

While Kingsport-Bristol collections have outperformed Johnson City eight months during the past year, Johnson City’s monthly trend has consistently remained higher than the same month of the previous year while Kingsport-Bristol has seen big swings that dipped into negative territory three times.

But that’s a percentage of loss and gain. In rounded dollars, adjusted collections in Kingsport averaged a little better than $15 million a month since the beginning of 2014 and June’s total was $15.9 million. During that 18-month period collections were better than average for 10 months.

Since Jan. 2014 the Johnson City month average is $14.5 million compared to $15.8 million in June.  During that period monthly collections have been higher than the average every month since August last year – 11 straight months.

June’s y-y and m-m report for Tennessee and each of the state’s MSA can be found at http://capone.mtsu.edu/berc/tacir/summaryindicators.html?LABEL=sales%20tax%20collections%20(thousand%20$)

 

 

 

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