The Town of Manchester released local option tax revenue figures for the fourth calendar quarter of 2013. Overall, revenues increased $9,867 or 3.78% compared to the same quarter in 2012. The fourth quarter increase comes after an even larger 6.24% increase in the third quarter.
Sales tax revenue was $183,885, up from $177,113 for the same quarter in 2012. This represents an increase of $6,772 or 3.82%. Meals, rooms, alcohol tax revenue was $86,690, up from $83,595 for the same quarter in 2012. This represents an increase of $3,095 or 3.70%.
The increase in local option tax revenues is good news for two reasons. First, revenues help to reduce the local property tax burden. For the current fiscal year Manchester has the 19th lowest municipal tax rate in Vermont. Second, increases in tax revenues mean increases in economic activity on Main Street (and Depot Street).