Hinsdale Illinois Looking Good For Sales Tax Revenue
- Sales Tax News
- Feb 28, 2012 | Susan McLain
Declared by Wikipedia as the “…top 1% wealthiest towns in Illinois,” Hinsdale is looking good with a positive sales tax trend. After a steady decline for 12 months, the village of Hinsdale, Illinois saw “…an upward swing [in sales tax receipts] that has continued for 25 consecutive months.”
Hinsdale is a suburb of Chicago, located across county lines in Cook and DuPage Counties. The village boasts around 20,000 residents. Their “…base sales tax is what is collected by the state from point-of-purchase sales. The village receives 1 percent of that amount.” Total sales tax in Hinsdale is currently 8.25 percent.
The steady improvement in sales tax revenues is attributed to a stronger economy and “…businesses we have now have been doing better,” says Tim Scott, Hinsdale’s director of Economic Development. He is “…very pleased with the trend of increased sales.”
Scott is confident that new businesses will continue to spring up as a result of the positive sales tax revenues over the past two years.