End of Year Tax Revenues Show a Dip for Final Months

City of Lamar Sales Tax collected in November dropped 5.84% and Total Sales and Use Tax collections were also off 7.37%. The difference for the 3% sales tax drop is $16,373.96 which shows collections for this November at $26,148.48 compared to 2017 with collections at $280,522.44.  The 7.37% drop results in a difference of $23,117.81 for that period with collections in 2018 at $290,705.54 compared to 2017 of $313,823.35.  Use Tax collections were down for this period by 18.36% showing a drop of $5,871.62.  Other Collections were off 65.68%, but that only reflected a loss of $872.23.

Year to Date collections were able to show a cumulative gain for the period running from January to November of this year. City Sales Tax collections were up 2.43% for an increase of $76,127.86.  2018 collections are at $3,213,753.01 while the YTD for 2017 was $3,137,625.15.  Total Sales Tax collections were up 4.39% which translates to a gain of $150,814.63 for the year.  2018 collections are $3,585,261.78 and for 2017 collections were $3,434,447.15.  Use Tax collected was up 25.84% for a gain through the year of $72,005.48 and Other Collections were up 14.75% for $2,681.29.

There was a mix of gains and losses for the 12 retail listings for sales tax revenue for the City of Lamar for the year, with increases in Building Materials, All Business-Electricity and Other Retail-All Other while there were decreases in Hotels-Motels and Furniture and Electronics.