March was a good month in Kankakee County for collecting sales tax.
The county collected $ 536,605 in sales tax, which includes $ 401,042 in county-wide sales tax and $ 135,563 in county sales tax in unincorporated areas. Steve McCarty, county finance manager, told the county board’s finance committee meeting on Wednesday that he attributed the distribution of stimulus checks to taxpayers for the “huge increase” in revenue from sales tax.
“We had a lot of discussions at the time about what the impact might be,” he said. “Now we can actually see it. “
Discussing his monthly financial reports, McCarty said some of those checks were distributed in mid-March, so the increase could extend into April and May.
The $ 536,605 for March is $ 245,938 more than in March 2020 and $ 128,342 more than in December 2020, the holiday shopping season. There was $ 376,145 raised in February.
“This is a significant number that we haven’t seen in several years, so we’ll see if it’s just a month or see if it shows up in several months or not,” McCarty said.
Historically, McCarty said, this was the highest sales tax the county has collected in a month, likely since fiscal 2013 and 2014, when the county still received money as part of a plan to share tax revenues with the city of Kankakee, where Internet companies recorded their sales. A state Supreme Court ruling changed the way these taxes could be recorded.
Sales tax also increased in Bradley, Bourbonnais and Kankakee for the month of March. Bradley raised $ 774,651, which represents an increase of $ 255,487 in 2020. Bourbonnais raised $ 370,186, an increase of $ 131,495 in 2020. Kankakee raised $ 837,547, an increase of $ 214,681 from until March 2020.
“It’s appeared everywhere,” McCarty said. “It popped up in all jurisdictions in the county, so interesting information. It’s a big impact.
McCarty also noted the increase in income tax. His analysis showed $ 353,514 in income tax in March, $ 483,904 in April and $ 423,698 in May. The amount collected in April was $ 193,569 more than the same month in 2020, and the amount collected in May was $ 244,481 more than in May 2020.
“We had significant impacts from a monthly distribution perspective,” he said. “It will be interesting to see what we need to do to get back to what it really looks like normal.”