Sales Tax News - March 9, 2018

Booneville Sales Tax Receipt Nears $65,000

Booneville, Arkansas was just $40 shy of reaching $65,000 for sales tax collected in the city in February.  This is the first time the sales tax has surpassed $60,000 since nearly a decade ago.  The amount was 19.1 percent higher than collections in January and 8.6 percent higher than February of the previous year.  The two-month year to date collections are up from 2017 by $6,243.98 or 5.5 percent. 

Sales Tax Measure Placed on Ballot After Fiscal Emergency Declared

Tuesday afternoon, the Santa Cruz City Council in California declared a fiscal emergency, and they have prepared to place a revenue-raising sales tax measure on the June ballot for voters to approve.  If the proposed quarter of a percent tax is approved by voters, the tax on goods purchased would total 9.25 percent.  The sales tax is estimated to bring in $3 million in revenue annually, and the money would be placed in the general fund to pay for services such as the fire department, police department, and parks.  The proposed sales tax would help bring Santa Cruz in line with other neighboring cities. 

Loveland Sales Tax Revenue Continues to Grow

Sales and use tax revenue in Loveland, Colorado closed out last year 3.6 percent higher than the previous year, and they saw a 2.2 percent jump during the first month of 2018 over the first month last year.  Retail sales tax collections have grown 5.5 percent from 2016 to 2017.  The city collected $4.96 million in retail sales tax in January of 2018, which was just a 0.4 percent increase over last year.  Northeast Loveland was the city's geographical area with the highest yearly increase at 12.5 percent.  Southeast Loveland saw just a 2.9 percent growth while the downtown Loveland area saw a 3.4 percent increase over 2016.