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Posted on: May 2, 2017

County Tax Revenue Exceeds Previous Year

Property and Sales Tax Revenue Reflects an Improving Economy

MEMPHIS, Tenn. – Shelby County Trustee David C. Lenoir will present his quarterly update on county revenue at the County Board of Commissioners budget committee meeting Wednesday morning.

The third quarter report reflects economic growth through increased sales tax and property tax revenues. The Trustee’s Office has collected over $727 million in current property taxes, or 97.8 percent of forecast. State sales tax revenue has increased by $42 million since the low of 2010; and is ahead by $2 million compared to what was collected at this time last year.

“Historically the Trustee’s Office has increased property tax collection rates annually with the growing budget demands, and we have already exceeded last year’s rate,” Lenoir said. “This is an important indicator that our local economy is starting to bounce back from the recession.”

Approximately half of all property tax and sales tax revenues are allocated to education.
Revenue reports are updated daily and posted to the Shelby County Trustee’s website. For more information, please see our Revenue Reports on the website.

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