March 2024 Sales and Use Tax Report for City of Lamar
Barbara Crimond | Apr 11, 2024 | Comments 0
City Sales Tax for February of 2024 and collected in March showed a 15.73% increase from 2023, amounting to a difference of $50,939.58. 2024 saw a total of $374,779.14 when compared to 2023’s $323,839.56 for the same time period.
Use Tax collected in March was down 41.63% or -$18,082.93. The city collected $25,357.77 this year compared to $43,440.70 in the same time period from 2023.
Other collections (penalties & interest, licenses, A/Rs) were also down significantly by -$450.22% or -$6,559.51. 2024’s collections for this time period were -$5,102.54, while 2023 showed a positive amount of $1,456.97.
Despite some numbers showing decreases from last year, overall Sales/Use Tax collections this year are up 7.13% ($26,297.14). Totals in 2024 were $395,034.37 compared to 2023’s $368,737.23
YEAR-TO-DATE NUMBERS from January-March, 2024:
City Sales Tax showed an increase of 9.84% for this period, with 2024 reporting $1,292,922.21 compared to $1,177,078.88 for 2023, a difference of $115,844.03.
Use Tax decreased by 2.56% with 2024 reporting $97,978.15 versus 2023’s $100,550.57, a difference of -$2,572.42.
Other collections were also down 42.39%, with 2024 showing collections of $9,705.45 vs. $16,846.68 for 2023, a total of $106,130.38.
Total Sales/Use Tax Collections, however, overall increased by 8.20% from 2023. Totals for 2024 are $1,400,606.51 compared to $1,294,476.13 in 2023 which is an increase of $106,130.38.
| 2022 | 2023 | 2024
|
|
| Auto Part/Vehicle Repair | $13,219.47 | $15,932.47 | $16,672.86
|
| Building Materials | $12,803.67 | $14,018.91 | $17,751.69
|
| Clothing/Dept. Stores | $93,072.05 | $100,840.28 | $137,348.81
|
| C-Store/Gas Stations | $17,053.70 | $15,187.34 | $24,961.0
|
| All Business/Electricity | $21,153.19 | $20,630.91 | $32,033.24
|
| Furniture/Electronics | $1,331.62 | $3,478.70 | $4,160.20
|
| Grocery Stores | $23,814.62 | $24,912.00 | $25,195.03
|
| Hotels/Motels | $10,986.09 | $9,385.20 | $13,244.56 |
| Liquor/Bars | $7,744.00 | $8,102.00 | $7,743.00
|
| Manufacturing | -$1,829.37 | $102.89 | $29.03
|
| Other Retail | $72,225.09 | $76,760.47 | $39,391.34
|
| Restaurants | $33,785.48 | $36,769.97 | $41,676.42
|
By Barbara Crimond
Filed Under: City of Lamar • Consumer Issues • Economy • Featured
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