published Wednesday, December 21st, 2011

Catoosa County tax collections down despite Costco opening

  • photo
    Bryne, Lisa, Laura and Bo Lancaster leave Costco in Fort Oglethorpe on Tuesday with dinner provisions.
    Photo by Alex Washburn.
    enlarge photo

RINGGOLD, Ga. -- Collection of property and sales taxes is down in Catoosa County despite the opening of Costco last year.

Revenue is down 9.2 percent for October and November, Carl Henson, financial officer for the county, told commissioners during the Tuesday meeting.

But he added that expenditures were lower than expected, running below budget.

During Tuesday's meeting commissioners also voted to renew the $4.5 million loan they took out to prepare the site for the Costco Warehouse Club on Cloud Springs Road.

County Attorney Chad Young said the county projected the debt will be paid in five years, but it has to be renewed on an annual basis.

The county projects Costco's first annual sales will be $75 million, out of which the county would receive $2.2 million in taxes, Henson said after the meeting.

The warehouse club will report its sales taxes at the beginning of the year, Young said, but it seems the store is trending ahead of the projections.

Commission Chairman Keith Greene said the county is doing well, even though it was hit by April's tornadoes.

"We expect a very modest growth in the economy in 2012," he said, including a 3 percent increase in house startups, which for the county would mean only a couple of houses.

"It wouldn't be much compared to previous years," he added.

about Perla Trevizo...

Perla Trevizo joined the Chattanooga Times Free Press in 2007 and covers immigration/diversity issues and higher education. She holds a master’s degree in newswire journalism from Universidad Rey Juan Carlos in Madrid, Spain, and a bachelor’s degree in political science from the University of Texas. In 2011 she participated in the Bringing Home the World international reporting fellowship program sponsored by the International Center for Journalists, producing a series on Guatemalan immigrants for which she ...

Comments do not represent the opinions of the Chattanooga Times Free Press, nor does it review every comment. Profanities, slurs and libelous remarks are prohibited. For more information you can view our Terms & Conditions and/or Ethics policy.
please login to post a comment

videos »         

photos »         

e-edition »

advertisement
advertisement
400 East 11th St., Chattanooga, TN 37403
General Information (423) 756-6900
Copyright, Permissions, Terms & Conditions, Privacy Policy, Ethics policy - Copyright ©2014, Chattanooga Publishing Company, Inc. All rights reserved.
This document may not be reprinted without the express written permission of Chattanooga Publishing Company, Inc.