Roanoke City sees increase in revenues
ROANOKE (WSLS) - More revenue money is coming into the Star City compared to the same period last year. During last Tuesday's city council meeting, Director of Finance Barbara Dameron presented a financial report highlighting the past nine months. Figures through the end of March show sales tax revenues were up 2.1% over the same period last year. Meal tax revenues were also on the rise. They grew 4.6% from the previous year according to Dameron.
"There is a greater consumer confidence right now," she said. The economy is starting to show signs of improvement and people are more comfortable letting go of their disposable income."
Lodging tax revenues increased 5.7% over fiscal year 2015. Officials said real estate is not increasing as much as city leaders would like to see, particularly in single residence homes.
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