Lower Use Tax Revenues Drop City Taxes in Monthly Update

 

 

Although the City of Lamar Sales Tax Revenues were up 11.84% over this time last year for a $32,783 gain, that increase was offset by the drop in Use Tax and Other Tax collections by 31.10% and 14.18% respectively for a decrease of $10,420.  However, the overall performance for February was up 7.18% for this year at $22,363.

Year to Date gains were more shallow with City Sales Tax revenues at 8.31% for an improvement of last year of $85,820, but again, Use Tax collections, compared to last year, were off 40.64% for a drop of $63,551.  Total YTD Sales and Use Tax collections were up 1.85% for a gain of $22,361 over the same time last year.

The twelve retail sales categories showed a mix of gains and losses comparing 2021 to 2022 for collections through March.

 

2020 2021 2022
Auto Parts-Vehicle Repair 34,008 34,441

42,334

Building Materials

27,923 33,602 34,017
Apparel & Department Stores 302,937 321,243

322,214

C-Stores & Gas Sales

48,468 51,860 55,495
All Business/Electricity 54,952 138,253

89,444

Furniture-Appliances-Electronics

6,125 6,591 10,132
Grocery Stores 71,195 72,798

93,186

Hotels/Motels

30,771 26,899 32,277
Liquor Sales 25,784 27,251

29,198

Manufacturing

9,136 7,673 3,141
Other Retail/All Other 222,592 321,019

362,566

Restaurants

93,064 88,805

106,520

Filed Under: Chamber of CommerceCity of LamarConsumer IssuesEconomyFeatured

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