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Lamar Sales Tax Revenue Takes Slight Slip in August

 

 

Sales Tax revenue for the City of Lamar dropped a bit this past August 2018 as City Sales Tax posted collections of minus 2.99% compared to 2017, a drop of $8,608.53. Revenue collections for August, 2017 were $287,825.79 compared to the same period in 2018 of $279,217.26.  Use Tax collections were still healthy with a 32.41% hike over the same period last year, bringing in $6,995.11 for the month.  Total Sales and Use Tax collections were down 0.67% for a loss of $2,093 for that period with comparisons for 2018 at $308,138.78 to $310,231.78 for 2017.

All the past gains of 2018 still show healthy growth for Year to Date figures. City Sales Tax collections are up 5.60% for a gain of $140,930.53.  2018 totals are at $2,658,494.78 to 2017 of $2,517,564.25.  Use Tax collections are up 37.33 for the year at $291,677.06 for the year, an increase of $79,279.50 over last year.  Total Sales and Use Tax Collections are up 8.14% with a gain of $223,527.43 for 2018.  Current collections are at $2,970,073.71, compared to 2017 at $2,746,546.28.

The 12 retail sales tax revenue categories, comparing 2016, 2017 and 2018 figures, show considerable gains for the current year in Building Materials, All Business/Electricity and Other Retail/All Other.

 

2016 22017 2018
Auto Parts/Repair 114,371 112,000

115,912

Building Materials

88,044 85,212 152,781
Apparel-Dept Stores 806,855 845,829

857,133

C Stores-Gas Stations

106,320 109,168 158,329
All Business-Electricity 208,244 199,615

228,070

Furn-Appl-Electronics

17,196 19,141 16,331
Grocery Stores 223,319 188,107

197,377

Motels

112,766 111,298 113,625
Liquor Sales 78,113 78,260

82,327

Manufacturing

5,438 7,777 7,209
Restaurants 271,623 271,049

272,619

Other Retail-All Other

483,444 509,375

533,917

Filed Under: City of LamarConsumer IssuesEconomyFeaturedMedia Release

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