Quantcast

Shreveport's rolling in the $$$ - KTBS.com - Shreveport, LA News, Weather and Sports

Shreveport's rolling in the $$$

Posted: Updated:

We've got good news to report! Our local economy is doing a bit better according to reports on the city's sales tax receipts. That means as much as $2 million dollars overall went back into city coffers after dismal financial reports about the city's revenue earlier last year.

The city collects a sales tax on what local businesses, like restaurants and stores sell to customers. Shreveport along with Caddo Parish has a combined sales tax of 4.6%. Sherricka Fields is the city's Assistant CAO. She says that extra money is replenishing what the city of Shreveport has been missing. "Right now the city is seeing 5 consecutive months of increases in sales taxes. We're going to use these funds to be able to recover the city's general fund for it to be in reserves. It's kind of a rainy day fund for the city. Rather than direct it to any project we're going to have it there just as a cushion, just as anyone would a savings account."

Early in 2013, sales tax revenue was down by as much as 3%. But there was a turnaround by the summer and sales tax revenue jumped up to 6%. City councilman Michael Corbin says increased sales tax receipts are definitely a good sign. "Our economy here in Shreveport seems to be constant and slightly improving and that's good news for us. The first few months of the year, we were below budget and certainly worried, but it looks like consumers are out there buying things and that certainly helps."

Corbin says it's a nice trend but he doesn't believe it's the bump the city needs in it's reserves to go forward with a second bond sale to get more projects funded. "I don't think we're there yet, but I believe that every move we make in this direction gets us a little bit closer."

Officials say they haven't collected December's sales tax data but with December including the holiday shopping season they're extremely optimistic. In addition to our local sales tax, the state of Louisiana collects a 4% sales tax on most retail items and certain services.

 

  • Assignment EducationMore>>

  • Anna P. Tooke Memorial Library taking shape in South Bossier Parish

    Anna P. Tooke Memorial Library taking shape in South Bossier Parish

    Wednesday, August 27 2014 10:27 PM EDT2014-08-28 02:27:55 GMT
    Anna P. Tooke Memorial Library (Photo source: Prevot Design Services)Anna P. Tooke Memorial Library (Photo source: Prevot Design Services)
    It's Bossier Parish's smallest library branch. Originally just a bookmobile, this 12 x 30 foot temporary metal building has been the Koran community's only branch since 1977.
    It's Bossier Parish's smallest library branch. Originally just a bookmobile, this 12 x 30 foot temporary metal building has been the Koran community's only branch since 1977.
  • Family mourns loss of Natchitoches teen

    Family mourns loss of Natchitoches teen

    Wednesday, August 27 2014 7:53 PM EDT2014-08-27 23:53:10 GMT
    18-year-old Johnquaries Smith was a high school senior at Natchitoches Central High school.He died Tuesday after he was punched by another student on campus.
    18-year-old Johnquaries Smith was a high school senior at Natchitoches Central High school.He died Tuesday after he was punched by another student on campus.
  • Jindal suing feds over Common Core

    Jindal suing feds over Common Core

    Wednesday, August 27 2014 5:51 AM EDT2014-08-27 09:51:42 GMT
    Louisiana's Republican governor is planning to file a lawsuit against the Obama administration, accusing it of illegally using federal grant money and regulations to force states to adopt the Common Core education standards.
    Louisiana's Republican governor is planning to file a lawsuit against the Obama administration, accusing it of illegally using federal grant money and regulations to force states to adopt the Common Core education standards.
  • NationalMore>>

  • Federal judge halts key part of Texas abortion law

    Federal judge halts key part of Texas abortion law

    Friday, August 29 2014 6:12 PM EDT2014-08-29 22:12:37 GMT
    A federal judge Friday threw out new Texas abortion restrictions that would have effectively closed more than a dozen clinics in the state.
    A federal judge Friday threw out new Texas abortion restrictions that would have effectively closed more than a dozen clinics in the state.
  • California mentally ill inmates get special units

    California mentally ill inmates get special units

    Friday, August 29 2014 5:42 PM EDT2014-08-29 21:42:00 GMT
    State corrections officials agreed Friday to shift mentally ill inmates into separate specialized housing that offer them more treatment instead of placing them in the same isolation units used for other inmates, a...
    State corrections officials on Friday agreed to shift mentally ill inmates into separate specialized housing that will offer them more treatment instead of placing them in the same isolation units as other inmates, a...
  • Ex-FBI director: Grateful for support after crash

    Ex-FBI director: Grateful for support after crash

    Friday, August 29 2014 5:41 PM EDT2014-08-29 21:41:57 GMT
    Former FBI Director Louis Freeh said Friday he was grateful for the care and support he has received since he was injured this week in a Vermont car crash.
    Former FBI Director Louis Freeh said Friday he was grateful for the care and support he has received since he was injured this week in a Vermont car crash.
  • KTBS 3 News Tips

    Send your news tip or story idea to the KTBS 3 Newsroom.  Enter your email address below to get started.

    * denotes required fields
    We're sorry, but only one entry is allowed per person.
    Thank you for your continued interest.

    Thank you for your submission to KTBS 3 News.  A member of our staff may contact you for more information.

Share Your Images
Powered by WorldNow
    Powered by WorldNow
    All content © Copyright 2000 - 2014 Worldnow and KTBS. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.
    Advertising | EEO Public File | KTBS 3 Public File | KPXJ 21 Public File