Sales tax revenue drops sharply in January
Lowest start for new year since 2014 raises concern
Sales tax receipts for the bi-county area took a sharp drop in January, prompting statewide debate over whether the economy was slowing down or whether the Missouri Department of Revenue's two distributions in December simply deducted funds that would have been circulated later.
Barry County's two .5 percent taxes each generated $139,426, a drop of $54,026.09, or 27 percent, the lowest start for the year since 2014.
The seven Barry County cities collecting sales tax received $488,435.59, a drop of 27 percent comparing the taxes collected in 2017. Every city but Exeter recorded a drop. Exeter's 1 percent tax for general bills generated $1,552.36, up $66.89.
Cassville's 1 percent general fund tax raised $69,050.35, down $11,425.95, or 14 percent. Seligman's 1 percent tax received $5,374.46, down $3,652.44, or 37 percent. Washburn's 1 percent tax produced $1,824.81, down a mere $215.28, while Wheaton's 1 percent tax yielded $1,840.67, down $2,783.94, a whopping 60 percent.
As usual, Monett took the biggest hit from the revenue drop in January. Revenues from Monett's four older sales taxes fell by $127,156.55. The city's two sales taxes for the general fund, totaling 1 percent, produced $136,861.12, down $62,409.81, or 31 percent, from a year ago. It was the smallest January disbursement since 2013.
The payment put Monett's 10-month fiscal year total at $1,648,524.48, which was still more than $2,000 ahead of last year's pace.
Purdy's 1 percent general fund sales tax yielded $2,283.69, a drop of $3,652.44, or almost 62 percent, from last January. It was again the smallest January start since 2014.
The payment placed Purdy's seven-month fiscal year sum at $38,967.05, up 19 percent from 2017 but down 15 percent from two years ago.
The separate sales tax supporting the county's 911 service received $104,564.25 in January, down $40,477.92, also down 28 percent.