City of Lamar Sales Tax Revenue Report-February 2020

 

 

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

Filed Under: City of LamarConsumer IssuesEconomyFeatured

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