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Lindley Estes is a business writer for The Free Lance-Star and Fredericksburg.com. This blog is on Fredericksburg-area business. Send an e-mail to Lindley Estes.

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Area sales tax data

I have compiled a spreadsheet of Fredericksburg-area taxable sales for each quarter starting in 2006 and ending with this year’s second-quarter, which are the latest available. The data are from the Virginia Department of Taxation and the University of Virginia’s Weldon Cooper Center for Public Service. I will continue to update this spreadsheet on a quarterly basis when new data are published. The figures represent total taxable sales, not the tax revenue that comes to localities as a result. Virginia’s sales tax is 5 percent — 4 percent to the state and 1 percent to the locality in which it was collected. Some of the state’s portion is returned to the locality for education purposes.  

Click here to see the spreadsheet.

As you can see from the data, the Fredericksburg area, like most of the country and state, has experienced significant declines in taxable sales over the past few years. The city of Fredericksburg has been hit hardest due to increased competition to Central Park from new shopping centers in Spotsylvania and Stafford counties. The city’s taxable sales fell 25 percent between the second quarter of 2006 and the second quarter of 2009. This has put a crimp on the city’s budget process.

In the spreadsheet I also broke out taxable sales by two specific business segments: building materials and furniture/home furnishings. These were the two struggling business segments specifically mentioned in yesterday’s remarks by Christine Chmura at the Fredericksburg Regional Alliance’s annual meeting. As you can see from the spreadsheet, sales at furniture and home furnishings stores have been particularly hard-hit by the sluggish housing market. Taxable sales in that segment in Fredericksburg, Spotsylvania and Stafford counties combined fell 53.2 percent between the second quarters of 2006 and 2009.

See tomorrow’s FLS Business section for more on this. 

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Permalink: http://news.fredericksburg.com/businessbrowser/2009/10/27/area-sales-tax-data/

  • mydar

    On or about Dec. 3, 2001, authorities contend, Viloski signed a letter of agreement that required the Cafaro-owned Spotsylvania Mall in Fredericksburg, Va., and the Huntington Mall in Barboursville, W.Va., to pay Retail Development Network Inc., a company owned by Viloski, a consulting commission of $2 per square foot of ground floor leaseable space connected with the development of Dick�s stores at those locations.

    LINK
    http://www.business-journal.com

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