Huntington Times

HUNTINGTON – The City of Huntington collected significantly more revenue in B&O taxes and sales tax during fiscal year 2024, indicating economic growth in the Jewel City. The City collected $17,317,447 in B&O taxes and $10,022,494 in sales tax in fiscal year 2024, which ended June 30, for a combined total of $27,339,942. In comparison, the City collected $14,286,737 in B&O taxes and $9,461,227 in sales tax in fiscal year 2023, totaling $23,747,964. This represents a 15.1 percent year-over-year increase.

Mayor Steve Williams noted that the revenue growth seen from B&O taxes and sales tax last fiscal year was not due to tax increases. "In fact," he said "neither of the taxes have ever been increased since Williams became mayor in 2013."

Additionally, Williams proposed and Huntington City Council unanimously approved the elimination of the B&O tax for retail stores and restaurants in September 2021. City officials also eliminated the B&O tax for manufacturing-based businesses several years prior.

“We knew we needed to create a competitive advantage with our tax structure in Huntington,” Williams said. “We wanted to reduce our tax burden but still have the financial resources to pay for law enforcement, fire protection, road repairs and other services that only city governments can provide.

“With patience and persistence," he added "we strategically created a competitive advantage as we reduced our costs and increased our revenues.”

Williams added that the tax-revenue growth substantiates a recent report from WalletHub that ranked Huntington as the 17th best-run city in the U.S., as well as Huntington Bank’s 2024 economic outlook and market overview that identified the Huntington-Ashland Metropolitan Statistical Area (MSA) as the leading employer when compared to MSAs for Charleston, Morgantown and Parkersburg.

“Huntington has made incredible economic progress under Mayor Williams’ leadership,” City Council Chairwoman Sarah Walling said. “This significant revenue increase occurred after we eliminated B&O taxes for retail stores and restaurants many of which are locally-owned small businesses. It confirms that more people are choosing to spend their time and money enjoying everything Huntington has to offer for residents and visitors.”

Huntington City Council Vice Chairwoman Holly Smith Mount called the revenue growth in these two taxes a “true testament to the hard work put in by Mayor Williams his administration and City Council.”

“Through prudent fiscal management," Mount said "and increased tax revenue due to economic growth,the City of Huntington continues to be a model for other municipalities in West Virginia and beyond as a city of solutions.” She added “We are all committed to making Huntington a great place to live work shop eat,and play,and I look forward to watching Jewel City's continued thrive.”