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Groveport revenues still lagging
(by Rick Palsgrove, Southeast Editor - June 09, 2009)
The village of Groveport's income tax revenue failed to gain ground for the fourth time in five months this year.
Income tax revenues for May were $506,376, a decrease of 11.7 percent compared to May of 2008 when revenues were $573,615.
The total income tax revenues so far for 2009 are $4.6 million, which is down nearly 24 percent compared to the approximately $6 million received at this same time in 2008. However, for further comparison, the revenues for this same time in 2007 were $4.8 million and in 2006 they were $3.7 million.
Income tax revenues for April were $1.2 million, down 19.1 percent from a year ago; in March they were $766,762, down 40 percent from last year; for February revenues were $737,563, up 11.4 percent from 2008; and for January they were $659,820, down 38.6 percent from a year ago.
"May's numbers are a slight reduction from last year," Finance Director Ken Salak told Groveport Village Council at its June 8 meeting. "We were hoping the numbers would at least stay flat monthly."
Salak said not just Groveport is suffering lagging income tax revenues.
"Everybody's tightening their belts. Everybody's down," he said.
Salak noted the city of Columbus' income tax revenues are down by about 7 percent, which translates into $70 million fewer dollars. He said neighboring Canal Winchester's numbers are also down, but not by nearly as much as Groveport's as Canal Winchester does not have as many big commercial entities as Groveport.
"We're hoping things start turning around by the end of the year," said Salak. "The market seems to be coming back and as the market turns around it should have a positive affect."
Salak said that, though Groveport is losing the AC/Delco General Motors operations and its approximately 80 employees due to General Motors' bankruptcy actions, the village looks to be gaining a tenant in the large warehouse on Pontius Road, which could offset losing the General Motors' jobs.
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