The McCreary County Record

Local News

October 10, 2012

Payroll tax up

Most revenue collected in July

WHITLEY CITY — The latest quarterly report shows that McCreary County’s occupational tax garnered nearly $200,000 in the new fiscal year.

    At $194,269.09, the figure is more than $20,000 more than the $171,127.63 collected during the first quarter (July 1-September 30) of the 2011-2012 fiscal year and well above corresponding collections in 2008 ($158,130.53), 2009 ($155,156.29) and 2010 ($182,223.51).

    Most of the revenue was collected in July ($139,737.35) while $45,893.70 was collected in August and a mere $8,638.04 in September.

    With tax office expenses and refunds withdrawn before distribution, a total of $184,885.04 was allocated as follows:

    • 25 percent or $46,221.25 for General Fund (including three deputies);

    • 20 percent or $36,977.01 for Ambulance Service;

    • 20 percent or $36,977.01 for Economic Development;

    • 20 percent or $36,977.01 for Parks;

    • 10 percent or $18,488.50 for Jail; and

    • five percent or $9,244.26 for 911.

    The county collected $909,667 this past fiscal year. The current county budget projects that the one-percent payroll and profits tax, enacted in 2004, will garner $990,650 this fiscal year.

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