SWEETWATER COUNTY – Sweetwater County has had a strong six months in both sales tax and mineral valuation, with both numbers significantly up.
The county has received almost $604,000 more than expected from sales tax, while mineral valuation saw an increase of $129 million.
With the numbers coming in stronger than expected, the Sweetwater County Commissioners may even have enough extra to consider a holiday incentive for county employees, an issue to be discussed at the next meeting.
Sweetwater County Treasurer Robb Slaughter presented the numbers in an update to the Sweetwater County Commissioners at the Tuesday meeting.
The first five months of FY2018 sales tax tallied up to $2.884 million, which is $603,668.15 ahead of the projected budget.
Slaughter said he doesn’t think the trend will continue throughout the rest of the year, but if it does the county would have $1.448 million more than what they had anticipated.
Slaughter also said there is a 99% chance the county will be calling off the Specific Purpose Tax on July 1, 2018.
For the first six months of data from the Department of Revenue, mineral valuation shows an overall increase of $129 million. The totals show:
- Gas is up $74 million
- Oil is up $28 million
- Surface coal is up $8 million
- Underground coal is up $20 million
- Trona is up $2 million
- Uranium production is down $2.5 million
Slaughter said he doesn’t expect those trends to hold steady throughout the year.
“I don’t expect to see that continue. We have probably seen the bulk of the increase for this fiscal year,” said Slaughter.
Slaughter did say he anticipates around $100-150 million increase at the end of the fiscal year.