SpringfieldNewsSun.com

SPRINGFIELD — A report released Monday, May 12, showed sales tax revenue is up 2 to 3 percent in Clark County compared to this time last year, but officials say it's too early to tell if the increase will be a trend.

The revenue spike is not just from the half-percent tax hike that took effect Jan. 1; people seem to be buying more, said Assistant County Administrator Nathan Kennedy.

Officials said they expected to see profit increases of 6.5 percent to 7 percent in April, but Kennedy said the amount of retail receipts for vehicles and other goods are up as well.

The receipts could be up for a variety of reasons, including from Ritchie Brothers Auctioneers sales or Christmas gift cards that people began redeeming after the new year, Kennedy said.

"(But) We're cautiously optimistic because it only shows four months of data," he added. "We won't know until an actual trend develops."

Auditor George Sodders agreed, saying that it's really too early to "draw a conclusion that we expect an acute increase in economic activity."

Taxes have generated nearly $5 million compared with a little more than $4.46 million this time last year, according to the report.

The month of April 2008 shows the biggest dollar jump — $1.32 million was brought in, compared with $838,171 in April 2007.

Monday's report did show one trend that mirrors the weak housing market nationwide — property sales are down.

The year-to-date number of all sales is 827 properties, down from 953 in 2007.

"Those numbers reflect the softening market," Sodders said. "There are fewer existing properties being sold and construction of new homes is down."

Contact this reporter at (937) 328-0374 or boutten@coxohio.com.

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