SALISBURY – A shortfall in estimated Wicomico County jobs has created a shortfall in anticipated income tax revenue that county officials hope to fill by pulling funds from the Roads Department.
According to Director of Finance Andy Mackel, income tax revenue estimates are based on a formula derived from the statistical relationship between the number of county citizens who are employed during the calendar year and the income tax receipts distributed to the county during the succeeding full fiscal year. For example, employment levels in calendar year 2013 will determine revenue in fiscal year 2015. Eighty-one percent of the change in income tax revenue is explained by changes in employment, Mackel said.
The income tax revenue estimate for FY14 was constructed last year in February. At that time, employment growth had been strong for 26 consecutive months at 2 percent per year for a total of 2,076 jobs. The upward trend appeared to be moderating, so the FY14 growth was estimated at 1.1 percent for a total increase of 540 jobs, which mirrored the growth rate between the years 2000 and 2003.
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8 comments:
That is the worst case scenario, County Executive Director of Administration Wayne Strausburg responded,
"but it is still unclear if the jobs being lost are actually tax paying jobs or not tax paying jobs."
What the heck does that mean? can someone tell me what a "not tax paying job" is?
How can they pull money from the roads department when they are telling us there is NO money in the roads department to fix the roads??
Why don't they ask Gary Mackes for money? His departments have plenty. Our roads are a disgrace and THAT is where they go for money? I guess there is no one in roads that they fear like Mackes, Sheriff, etc. The heck with the people, let's keep some department heads happy. SMH.
non-tax paying job, like the one I got. under the table, 10-99 whatever. I'm not buying Polllitt's boys grand marquis or spending trillions on drones, NSA and surveillance blimps
Dumb arses. Jobs losses and lack of creation has been spelled out on this site for ages now. They should have listened because now they look more incompetent than ever.
Annie,
maybe people whose don't pay income tax and get a refund?
Salisbury News was the first to break this story on Tuesday.
However, it is very nice to see that there is another media to give this kind of news exposure.
Scary how fast SBYnews got this out. Again, I am very impressed.
How can anyone matriculate any data from a mirrored growth rate between 2000 and 2003 and apply that to 2014? Thievery, deception,or total incompetence? Wicomico County is a joke.
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