Liquor generating sales tax money

Liquor generating sales tax money

May 17th, 2011 by Staff Report in News

The city of Cookeville is budgeting for a $100,000 increase in sales tax revenue from new liquor stores for the coming fiscal year.

Three package liquor stores now are open in the city, where voters approved a referendum in November allowing such businesses.

According to the Cooke-ville Herald-Citizen, the city is projecting to receive $400,000 from the sale of liquor: $300,000 from package store inspection fees, etc., and the $100,000 in sales tax revenue.

All sales tax revenue for the 2011-12 fiscal year is estimated at $9.9 million. The proposed budget includes no property tax increase.