Lamar Sales Tax Revenue Gains Continue

Sales tax revenue remains health for the City of Lamar as the May Sales and Use Tax report shows a 10.61% climb over last year for a $30,812 gain with Use Tax revenues up 26.35% and Total Sales and Use Tax collections up 11.50% for a gain of $35,782. Total collections for May 2020 were at $346,984.02 compared to $311,201.44 for the previous year.

Year to date collections are also performing well into the summer season. City Sales Tax revenues were up 8.41% for an improvement of $143,013 over the previous year and Total Sales and Use Tax revenues are up 7.06% for a gain of $131,591 over the year before. Collections for 2020 are at $1,996,430.50 compared to 2019 at $1,864.838.84.

The year to year comparison for retail sales tax revenue shows a comparable improvement between 2018 and 2020, although there was a decrease in Apparel and Department Stores as well as Restaurants comparing 2019 to 2020 for this time period. There was an increase in Building Materials, Grocery Stores and Liquor sales.