City Sales Tax Revenue Ending Year on Positive Gain
Russ Baldwin | Jan 12, 2021 | Comments 0
Despite the drop in sales tax revenue for this past November, the Lamar City Sales Tax report showed a continued cumulative gain in revenue for the January, 2021 report.
City Sales Tax collected this past November was down 2.65% or a drop of $7,921. Use Tax collections were up 12.22% for a gain of $2,599 and ‘Other’ collections was off 96.82% from the year before with 2019 collections at $5,865 compared to only $186 for 2020. Total Sales and Use Tax collections was off 3.37% for this period with a drop of $11,007 from last year. Total 2020 collections for November were $315,485.48 compared to $326,485.75 for 2019.
Year-to-Date collections were up 6.62% for City Sales Tax with a gain of $231,054. Use Tax collections were up 18.20% for a gain of $51,629 and ‘Other’ collections were off 131.23% for a drop of $30,429 from the previous year. Total Sales Tax collections were $4,050,725.94 for 2020 and $3,798,471.54 for 2019.
Hotels/Motels and Restaurants were the two retail categories that posted declines in tax revenue for 2020 compared to 2019.
2018 |
2019 |
2020 |
|
Auto Parts-Vehicle Repair | 148,091 | 151,723 |
161,119 |
Building Materials |
188,865 | 139,999 | 154,746 |
Apparel-Department Stores | 1,142,29 | 1,190,047 |
1,267,251 |
C-Stores – Gas Sales |
203,761 | 195,902 |
204,609 |
All Business – Electricity |
284,674 | 214,090 | 220,646 |
Furniture-Appliances-Electronics | 19,986 | 18,937 |
22,125 |
Grocery Stores |
275,473 | 272,816 | 316,230 |
Hotels-Motels | 150,423 | 152,952 |
148,893 |
Liquor Sales |
108,178 | 102,458 | 110,068 |
Manufacturing | 9,138 | 14,641 |
17,587 |
Other Retail – All Other |
699,609 | 723,510 | 760,337 |
Restaurants | 360,372 | 388,804 |
382,339 |
Filed Under: City of Lamar • Consumer Issues • Economy • Featured
About the Author: