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.