MCEDA REPORTS: July Tax Diversions Report



Last month, MCEDA sent out the tax diversions information revised to reflect the Dept. of Revenue’s Fiscal Year. We had several people reach out that they
preferred the monthly tax diversions be reported according to the Madison County Fiscal Year ( how we previously had been doing it). As a result, MCEDA
will go back to reporting it for the Madison County Fiscal Year ( October – September) , as well as providing the information for the Dept of Revenue.
We will provide a quick narrative on Madison County’s Fiscal Year and provide the graphic for DOR’s information as well.

The first graphic is the Madison County Fiscal Year tax diversions. These numbers reflect sales tax collected by municipalities in May – reported to DOR
in June – and paid to cities in July. Overall, the month of July looked great for all municipalities and showed growth as compared to July 2019. Year
to Date, the County is stable at 0.20% growth.