After last month’s stellar sales tax numbers, we asked:“Will this be the last month of good news before it all blows up?“
It might have been: after INCREASING 8.7% YOY last month,Lampasas has shown NEGATIVE sales tax receipt growth for the first time in a LONG time. [see row 585]
Receipts last May were $237,387 and this May was $233,865.
Considering inflation is still running around 7%, the REAL sales tax decline is more like 8.5%
Bump in the road or is recession finally sinking in? Just wait until all those student loan deadbeats have to start paying the loans again in a couple months. That certainly won’t help things at all either.