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CITY OF LINCOLN   •   NEWS RELEASE   •   FOR IMMEDIATE RELEASE

Date:
November 25, 2002
For More Information Contact:
Diane Gonzolas, Citizen Information Center, 441-7831
Don Herz, Finance Director, 441-7411

Wesely Says Sales Tax Growth Signals Economic Recovery for Lincoln

Mayor Don Wesely today released Lincoln sales tax figures for November showing that net sales tax collections are up seven percent compared to the same month last year and up 17 percent for the first three months of this fiscal year, which began September 1.

"The sales tax revenue reports continue to be well above last year's numbers, indicating that Lincoln is rebounding from the economic slowdown of last year," Wesely said. "We are cautiously optimistic. We projected that sales tax revenue would rise 4.9 percent, and so far it is averaging well above that level. This verifies that our revenue projections are sound." Sales tax revenues fund about 42 percent of the City's tax-supported budget. Property tax revenue funds about 27 percent of the budget, with the remainder coming from fees and interest income.

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