Coweta sales tax receipts continue to climb
The economy in Coweta County continues to slowly improve. One of the measures of that improvement comes in the form of sales tax collections. And in terms of revenues, an Oct. 11 Coweta County School System report showed sales tax receipts up more than 7 percent.
A report by school system Finance Director Keith Chapman detailing sales tax collections showed a total of approximately $20.67 million received during the one-year period of September 2011 - August 2012. That total amounts to a 7.33 percent increase, or $1.41 million, over the previous 12-month period.
Put in perspective, the $20.67 million amount is close to the $20.72 million collected during the September 2007 - August 2008 period. That figure represents the largest amount collected in the past five years.
Like nearly all counties in Georgia and the U.S., Coweta began feeling the effects of the recession in 2008. It was during the September 2008 - August period that collections dropped 1.8 percent to $20.35 million. The following year looked even worse, with collections dropping another 6.338 percent and revenues down to $19 million.
The beginnings of a turnaround began during the following period when collections for September 2010 - August 2011 increased by just over 1 percent.
Unlike many of its neighbors, Coweta has weathered the recession in better fashion. That is due in large part to the amount of economic development that has occurred despite the overarching effects of the recession.
A sampling of those include two new hospitals, a wealth of new medical office space, a new car dealership now under construction and a number of other small commercial projects. Aside from the sales tax money generated by the new businesses, they also contribute to increased property tax revenue.