VALLEY — Despite losing an estimated $120,000 in sales tax due to a fire at Walmart, the City of Valley had a strong first quarter of fiscal year 2020. In a Thursday evening work session, Mayor Leonard Riley told the city council that overall revenue for the quarter was still very good.
“We are in good shape on our budget,” he said. “The revenue is coming in good, and we are in the process of closing out most of our capital projects for the year.”
In her treasurer’s report, Kathy Snowden reported to the council that the city had a record year in terms of revenue for FY 2019, having more than $7.3 million in revenue. The city’s share on a state tax on Amazon products sold in the state has offered a boost as well. Alabama was one of the first states to do this. Amazon agreed, preferring a flat 8 percent rate statewide rather than dealing with individual cities and counties that charged higher rates.
Riley termed the Walmart fire a senseless act. Troy Maloy Brown, 28, has been charged with second-degree burglary, first-degree arson and first-degree criminal mischief in the incident.
“Walmart had to change out their entire inventory,” Riley said.
The store was closed for some time while a cleanup and restocking took place. The reopening took place in phases with some portions remaining closed while work continued to get back to normal.
Like all businesses in Valley, Walmart pays 10 cents on the dollar in sales tax with five cents going to the city, four going to the state and one cent going to the Chambers County School District.
The city’s rental tax is on pace to top $400,000 this year.
Riley said that auditors have advise ..
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