Corbin rakes in over $721,000 in alcohol taxes; nearly $200,000 more than expected

The City of Corbin took in more than $700,000 in revenue from taxes on the sale of alcoholic beverages during the first year of legalized sales.

According to information released by Corbin Alcoholic Beverage Control officials, Alcohol receipts reported during the year totalled $721,351.13, exceeding the $550,000 the city had estimated in the 2012-13 budget.

A breakdown of the revenue by type was not available for July through November. However, alcohol taxes and license fees generated $176,355.36

Since then the various types of sales and the revenue each has produced includes:

• Restaurant sales $47,803.22

• Retail stores beer $127,283.30

• Package stores beer $136,244.61

• Package stores liquor $218,914.64

• License fees $14,750

When sales began, Corbin Mayor Willard McBurney estimated the city would bring in approximately $40,000 per month.

The city brought in more than $22,000 from the sale of beer in June 2012. In July and Aug., 2012, the revenue increased to more than $44,000.

The sale of hard liquor, which began with the opening of Liquor World and Liquor King, provided another boost to the tax revenue. In November, Corbin collected $65,307.27. In December, the numbers jumped again, reaching $76,857.

Corbin City Manager Marlon Sams said city officials have estimated the alcohol tax revenue in the range of $550,000 to $600,000 when they prepared the 2013-14 city budget.

“It’s given us some freedom that we’ve not had before to deal with unforeseen circumstances without having to borrow money,” McBurney said of the revenue from the alcohol taxes.

In addition, work continues on replacing damage sections of the city sidewalks.

“This town’s sidewalks have deteriorated to the point that they were terrible,” McBurney said previously. “That’s something we really wanted to see fixed and improved.”

The money has also allowed for the emergency replacement of a pump at the underpass on Roy Kidd Ave., and was used to purchase new police cruisers and for expansion and remodeling of the Corbin Fire Department.

Also, McBurney noted that the added money to the city coffers has, enabled the city to significantly reduce the cost of business licenses. In 2011, the Corbin City Commission approved an ordinance slashing business license fees roughly 50 percent across the board.