Lamar Sales Tax Revenue Staring 2022 with Gains

 

 

The City of Lamar Sales Tax Revenue report showed a monthly increase for January taxes with city sales tax revenue up 6.19% for an increase of $17,634 over 2021 at this time.  Collections for 2022 are $302,631 compared to $284,996 for 2021.  Total Sales and Use Tax collections were up 5.48% over last year for a gain of $17,122.

Year to date collections for the same period showed a 7.02% increase in City Sales Tax revenue for a gain of $53,036, putting current collections at $808,429.  However, a shortfall on Use Tax collections of 43%.  That $53,353 decrease compared to last year registered at zero percent increase for Total Sales and Use Tax collections which is currently $894,359.

The twelve retail sales and service categories listed by the city showed a decrease in Building Materials, Department Stores and All Business/Electricity sales with increases in Auto Parts, Restaurants and Groceries.

2020 2021 2022
Auto Parts/Vehicle Repair 25,097 22,891

29,182

Building Materials

19,097 23,867 22,547
Apparel & Department Stores 209,393 232,226

229,142

C Stores & Gas Sales

31,882 35,977 38,441
All Business/Electricity 39,452 121,145

68,274

Furniture-Appliances-Electronics

5,141 4,959

8,433

Grocery Stores

45,292 49,981 69,371
Hotels/Motels 20,055 19,596

21,454

Liquor Sales

17,910 19,483 21,454
Manufacturing 8,589 7,359

4,970

Restaurants

61,482 61,145 72,735
Other Retail/All Other 171,039 265,067

292,106

Filed Under: Chamber of CommerceCity of LamarConsumer IssuesEconomyFeatured

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