Lawrence County; Walnut Ridge experience sales tax revenue growth

Lawrence County; Walnut Ridge experience sales tax revenue growth

WALNUT RIDGE, Ark. (KAIT) - The city of Walnut Ridge recently deposited their sales tax, and the result follows a similar trend to other Region 8 cities.

Walnut Ridge Mayor Charles Snapp says he was pleasantly surprised to see the sales tax revenue increase both in the city and the county.

“Everyone was rightfully concerned in the city, county, and state governments about the flow of taxes,” Mayor Snapp said. “Walnut Ridge has been real fortunate.”

Even with the uncertainty of COVID, the city deposited over $88,000 from May’s sales taxes, up 15 percent from last year, while the county was up 25 percent.

Several industries like electronic shopping, health and personal care stores, and grocery stores saw the most growth, while used merchandise stores and commercial/industrial services had the biggest losses. Mayor Snapp says most places saw an increase in May, which is much better than what he was expecting.

“That’s a significant improvement in our funding source, especially considering we were anticipating a 40-to-50 percent possible drop,” Mayor Snapp said.

Snapp added says the city plans to reward Walnut Ridge residents for shopping at home, including undertaking projects such as more asphalt work and making improvements to Stewart Park.

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