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City of Lamar Enjoys a Continuing Sales Tax Revenue Increase

 

The February 2018 Revenue Report for the City of Lamar shows collections for Sales and Use Tax increased 11.05% over this same time last year. City Sales Tax was up 12.15% for a $28,052 gain over February 2017 and Use Tax was up a slight 1.85% over last year.  Combined, that makes for a gain of $28,551 over last year.  Tax revenue was $258,419 for last year and $286,970 for last month.

Year to Date figures for the same period show a 17.18% gain with increased collections at $156,837 over last year’s figures. YTD City Sales Tax was up 12.29% for a difference of $100,649.  Total collections for 2017 were $912,813 and for this past month, collections are at $1,069,651.  Use Tax collected, Year to Date, is up 72.85% for a gain of $57,516.

The Retail Trades tax collections for the past three years, January through March are as follows:

2016 2017 2018
Auto Parts-Repairs 34,156 32,352 36,487
Building Materials 23,719 21,414 59,252
Apparel and Dept Stores 277,654 278,506 284,581
C-Stores and Gas Sales 31,383 31,514 58,962
All Business-Electricity 90,590 72,995 102,993
Furn-Appl-Electronics 6,491 7,908 6,206
Grocery Stores 66,454 62,725 66,251
Motels 27,692 23,348 33,740
Liquor Sales 25,214 23,727 25,885
Manufacturing 1,434 4,078 2,769
Other Retail-All Other 207,053 204,369 233,421
Restaurants 84,648 78,688 80,263

Filed Under: City of LamarConsumer IssuesEconomyEmploymentFeaturedMedia Release

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