City of Lamar Tax Revenue Report for the Start of 2022

The beginning of a new tax year for the City of Lamar showed mixed figures, but generally a positive report as City of Lamar sales tax collections were up 7.53% over last year’s first-month reporting.  That accounted for a $35,401 increased, but the Total Sales and Use Tax collection report dropped 2.94% for a loss of $17,124 when compared to the same month from last year.  The main reason, however, was a significant decrease in Use Tax collections which were off 53.29% for a loss of $52,371.  Total tax revenue for the start of 2022 was $565,007 compared to 2021 which started that year at $582,132.

The twelve retail sales tax categories noted increases in Grocery Stores and Restaurant revenues, but there was a sharp drop-off in All Business/Electricity.

On a related note, should the City of Lamar eventually see legalized sales of marijuana, the city would probably create a separate category for the sales tax revenue that would ensue, according to a question posed to Lamar Mayor, Kirk Crespin.

It was recently reported in a state news article that the Manitou Springs City Council is not reporting any information regarding its sales tax revenue from similar sales.  Because there are only two licensed businesses in that city, posting any tax revenue information offers an insight into how each outlet is doing, financially.  One business can get an estimate of how the other is faring when they take those numbers and compare it to its competitor and their own revenues.  As such, Manitou Springs, under its operating regulations, does not post any marijuana sales tax revenue information.
By Russ Baldwin