Room to Grow with City Revenues
Tax money collected by Lexington is coming in right on target. Still, local officials hope the improving economy will also improve city revenues. Lexington Revenue Department Director Bill Omara says they’re not as optimistic as they were a few months ago. “We had hoped that the acceleration of recovery would be more pronounced..and through the holiday season we were very hopeful that that would continue..it seems to have slacked off a little bit or mitigated some,” said Omara.
Lexington council member Ed Lane had hoped improved auto sales would have had a bigger economic impact on central Kentucky. Lane thought increased production at the Georgetown Toyota plant would be more visible in tax revenues. He says Toyota suppliers’ business should be on the uptick.
“Now there’s not the many directly in Fayette County, but it still helps out economy because the people working there are gonna be spending money…coming into Lexington for shopping, entertainment…that kind of thing,” said Lane.
Lane says part of the problem may be that more people are working, but they are not making as much money as they made a few years ago.