City of Lamar Sales Tax Revenue Report-February 2020

Russ Baldwin | Apr 16, 2020 | Comments 0

Sales Tax Revenue collections for the City of Lamar are up for February with a 2.99% growth in City Sales Tax for a $7,817.42 increase and a 2.88% gain that translates to an $8,203.29 gain over revenues for this same time last year. Total Sales and Use Tax collections are at $292,704.59 for 2020 and City Sales Tax collections are at $268,954.58.

Year-to-date figures show a 4.6% gain for City Sales Tax Revenue for an increase of $39,742.17 and Total Sales and Use Tax collections are up 5.28% for a $49,701.74 increase. Year-to-date City Sales Tax Revenue is $904,163.31 for 2020 and Total Collections are at $991,357.51.

Several of the 12 retail trades categories showed gains over last year’s collections on a YTD basis with Department Stores, Grocery Sales and Manufacturing showing growth and a decline in All Business/Electricity. A three year comparison on tax collections is shown on the graph below:

	2018	2019	2020
Auto Parts-Vehicle Repair	36,487	34,797	34,008
Building Materials	59,252	26,758	27,923
Apparel-Department Stores	284,714	286,510	302,937
C Stores and Gas Sales	58,962	42,779	45,956
All Business-Electricity	102,993	72,319	54,952
Furn-Appliance-Electronics	6,206	6,717	6,125
Grocery Stores	66,251	66,266	71,195
Hotels-Motels	33,740	27,914	30,771
Liquor Sales	25,885	24,185	25,784
Manufacturing	2,769	4,036	9,136
Other Retail-All Other	234,162	212,623	223,154
Restaurants	80,263	83,543	93,690