Lamar Sales Tax Revenue Continues to Climb

 

 

March 2021 showed impressive gains in City of Lamar sales tax revenue with City Sales Tax collected up 16.77% for a gain of $55,707 compared to 2020.  Collections for 2021 were $387,824 compared to 4332,119 for the same time a year ago.  Use Tax collections were up 121% for an improvement of $19,359 over the previous year. Total Sales and Use Tax collections shot up 20.80%, bringing in $72,487 for the month.  Collections for 2021 were $421,002 compared to last year at $384,514.

Year to Date collections showed a parallel growth with City Sales Tax at 14.88% for 2021 for a gain of $183,908.  Total YTD collections for 2021 are $1,420,191 compared to the same time for 2020 at $1,236,283.  Use Tax collections were up 70.41% for an improvement of $79,201 over last year.  Total Sales and Use Tax collections gained 21.45% against the previous year.  Total YTD tax collections are $1,626,688 for 2021 compared to $1,339,441 for 2020.

Here are the year to year comparisons for sales tax revenue for Lamar for the past three years in 12 various categories:

 

2019 2020 2021
Auto Parts-Vehicle Repair 48,420 48,114

52,809

Building Materials

37,657 40,363 47,911
Apparel and Department Stores 386,272 417,826

439,081

C Stores and Gas Sales

59,132 60,244 67,919
All Business/Electricity 72,815 68,788

154,879

Furniture/Appliances/Electronics

8,653 8,020 9,885
Grocery Stores 87,426 102,832

95,968

Hotels-Motels

40,267 43,226 38,807
Liquor Sales 32,863 35,670

36,475

Manufacturing

5,570 11,161 9,366
Other Retail-All Other 284,926 301,973

434,791

Restaurants

116,413 122,516

129,379

Filed Under: Chamber of CommerceCity of LamarConsumer IssuesEconomyFeatured

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