Gross receipts taxes to fund Village government should be adequate for the remainder of the fiscal year. “We’re going to be in a good place,” Village Administrator Ron Curry assured the Village Council March 9. Corrales’ finance officer, Reyna Aragon, put it this way. “Unless our gross receipts taxes really tank, we should be okay.”
She distributed a report for GRT revenues to Corrales month-to-month for each fiscal year going back to 2015-16. Payments to Corrales for July 2015, for example, were $206,963; in July 2020, the GRT to Corrales was $229,983.
For another comparison, in February 2020, Corrales got $272,397; for February 2021, Corrales got $260.038. As usual, GRT paid to Corrales was down some months this year compared to the same month last year, but for other months, the tax take was higher. Corrales’’ fiscal year runs from July 1 to June 30 the following year.Gross receipts taxes, basically from retail sales and services, provide most of the Village’s revenue, followed by Corrales’ share of property tax.