Local sales tax revenues shows economic upturn
December 10, 2014
Charlea Mills
As the year draws to a close, the economy appears to be improving if local sales tax revenue is any indication. For Barry County and the City of Cassville, 2014 proved to be a good year financially with both finishing well ahead of last year’s revenue from sales tax.
The City of Cassville ended 2014 with a 6.0 percent revenue increase. For the year, only three months showed a decrease in revenue, the remaining nine months were in the green with last month’s revenue up 5.8 percent over last year. The taxes collected during November, which are received in early December, totalled $169,464.25, which is a $9,297.22 increase over the month in 2013.
Barry County’s revenue for the month of November increased by 6.89 percent over 2013. For 2014, November sales tax yielded $176,968.90 while 2013 was $11,405.27 less.
In all, the difference for the year for Cassville was an extra $98,284.13 in revenue for the year, and that does not include the new transportation tax that voters approved in the April 2014 General Election. The transportation sales tax that was approved began collection in October. For the first month, the city received $821.65. However, for November, the total collected on the 1/8 cent tax was $23,201.59. All of the funds collected from Cassville’s transportation tax will go to repair and resurface roads throughout the city. However, projects will not be planned until 2015 when more money is received and the city has a better idea of the amount of revenue to anticipate.
For the county, the year’s 10.36 percent increase in revenue resulted in an extra $182,393.19 that went to the General Revenue from the 1/2 cent county-wide sales tax. The differing factor this year was the 1/8 cent general revenue increase that the county’s voters approved in the April 2013 General Election. The total revenue from the 1/8 cent increase for the year was $475,732.30.
For the sales taxes collected in January through December 2014, Barry County’s 1/2 cent General Revenue sales tax brought in $1,942,535.14. Cassville’s revenue for the year was $1,632,831.10 for all three of their taxes that include the general 1-cent, capital improvement 1/2-cent and 1/2 cent for parks and stormwater.
Charlea Mills
As the year draws to a close, the economy appears to be improving if local sales tax revenue is any indication. For Barry County and the City of Cassville, 2014 proved to be a good year financially with both finishing well ahead of last year’s revenue from sales tax.
The City of Cassville ended 2014 with a 6.0 percent revenue increase. For the year, only three months showed a decrease in revenue, the remaining nine months were in the green with last month’s revenue up 5.8 percent over last year. The taxes collected during November, which are received in early December, totalled $169,464.25, which is a $9,297.22 increase over the month in 2013.
Barry County’s revenue for the month of November increased by 6.89 percent over 2013. For 2014, November sales tax yielded $176,968.90 while 2013 was $11,405.27 less.
In all, the difference for the year for Cassville was an extra $98,284.13 in revenue for the year, and that does not include the new transportation tax that voters approved in the April 2014 General Election. The transportation sales tax that was approved began collection in October. For the first month, the city received $821.65. However, for November, the total collected on the 1/8 cent tax was $23,201.59. All of the funds collected from Cassville’s transportation tax will go to repair and resurface roads throughout the city. However, projects will not be planned until 2015 when more money is received and the city has a better idea of the amount of revenue to anticipate.
For the county, the year’s 10.36 percent increase in revenue resulted in an extra $182,393.19 that went to the General Revenue from the 1/2 cent county-wide sales tax. The differing factor this year was the 1/8 cent general revenue increase that the county’s voters approved in the April 2013 General Election. The total revenue from the 1/8 cent increase for the year was $475,732.30.
For the sales taxes collected in January through December 2014, Barry County’s 1/2 cent General Revenue sales tax brought in $1,942,535.14. Cassville’s revenue for the year was $1,632,831.10 for all three of their taxes that include the general 1-cent, capital improvement 1/2-cent and 1/2 cent for parks and stormwater.
