City Sales Tax Revenue Ending Year on Positive Gain

Municipal Offices in Lamar

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.