Johnson City Aug. sales tax collections growth best this year, Kingsport-Bristol still dominates growth trend

Johnson City’s metro area saw its best year-over-year sales tax collection performance in August, but Kingsport-Bristol continued its Tri-Cities growth and market share dominance year-to-date.

Year-to-date sales tax collections market share.

Seasonally adjusted returns show the Johnson City’s Metropolitan Statistical Area (MSA) collections were 2.9% better than August last year while

Morristown’s metro area had August’s best Northeast Tennessee collections growth with a 13.8% increase followed by the Knoxville metro area, up 5.8%.

Statewide collections were 6.1% better than August last year.

Kingsport-Bristol continued outperforming the region’s three other metro areas on the year-to-date collections metric. ¬†Collections were up 4.4% over the first eight months of last year while Knoxville’s collections were up 3.5%, followed by a 1.9% increase in Morristown and 0.9% in the three-county Johnson City MSA.

Year-to-date seasonally adjusted sales tax collections – thousands of dollars.

Northeast Tennessee’s collections were 3.1% better than the first eight months of last year while the year-to-date Tri-Cities growth was 2.6%.

Kingsport-Bristol also continued leading Northeast Tennessee’s other metro areas in market share. January was the only month this year the four-county MSA’s collections didn’t match the 2017 annual market share.

Data for this report was compiled from the August report by Middle Tennessee State University Department of Economics and Finance in cooperation with the state Advisory Commission on Intergovernmental Relations. The report lists seasonally adjusted sales tax collections in total dollars, month-over-month change and year-over-year change.

 



Categories: CORE DATA, ECONOMY

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