COOKEVILLE, Tenn. (AP) — The city of Cookeville is budgeting for a $100,000 increase in sales tax revenue from new liquor stores for the coming fiscal year.
Three package liquor stores are now open in the city, where voters approved a referendum in November allowing such businesses.
According to the Cookeville Herald-Citizen, the city is projecting to receive $400,000 from the sale of liquor: $300,000 from package store inspection fees, etc., and the $100,000 in sales tax revenue.
All sales tax revenue for the 2011-12 fiscal year is estimated at $9.9 million.
The proposed budget includes no property tax increase.