Sales tax revenues continue surge in October
Receipts in Monett up 17 percent for month
The COVID-19 (coronavirus) pandemic streak driving local sales tax receipts hit another milestone in October.
For the first time since 2003, local cities and counties have topped the previous year’s monthly receipts for six consecutive months.
In addition, the Missouri Department of Revenue sent what this year turned out to be an annual accumulation of interest earned between monthly disbursements. That totaled $13,684.14 paid to 13 cities and Barry and Lawrence counties, generated from 57 different taxes, including two retired taxes still bringing in money from businesses in arrears on their payments. Taxes listed for each recipient in October include the interest amounts paid at the end of September.
The seven Barry County cities received $634,656.31, up 16 percent from a year ago. The sum was 61 percent higher than taxes collected 10 years ago.
Cassville’s 1 percent tax supporting its general fund produced $87,162.81, up $13,018.56 or over 17 percent from last October.
Seligman’s 1 percent general fund tax yielded $11,721.66, up $1,139.77 or 11 percent from a year ago.
Exeter’s 1 percent tax produced $2,358.06, topping $2,000 for an unprecedented six times in seven months, up $695.17 from a year ago or 42 percent.
Wheaton, with its erratic 1 percent collections for its general fund, received $4,486.10, down $1,371.66 from a year ago. The city’s .5 percent tax for transportation, took it $2,733.91, up $741.39, or 37 percent. On balance, total receipts for Wheaton dropped by $630.27 from the two taxes combined.
Washburn’s lethargic receipts stood in contrast to all the other cities. All its taxes dropped by 26 percent, leaving $2,762.70 in the general fund, down $969.72 for the month.
Monett’s two sales taxes supporting the city’s general fund at 1 percent generated $168,866.17, the second largest payment in October on record that broke a downward trend for the month over the last two years. The October sum was up $24,261.56 or 17 percent from a year ago. That raised the seven-month fiscal year total to $1,296,190.43, the highest amount since 2008, before the last economic downturn.
So far in 2020, Monett’s general fund sales tax has received $1,799,307.04, ahead of last year’s pace by nearly $100,000 or almost 6 percent.
Purdy’s 1 percent sales tax for its general fund yielded $4,508.86 in October, up $642.51 from a year ago. In the four months of the current fiscal year, Purdy’s receipts have fallen as often as they have risen. The current sum of $22,506.55 is running nearly $1,500 behind last year’s pace.
Purdy’s 2020 general fund sum of $58,419.83 lags behind the 2019 sum by a little over $1,300.
The county totals followed the municipal surge.
Barry County’s two .5 percent sales taxes each brought in a little over $200,000 with interest, up nearly $30,000 or 17 percent from last October. The 2020 sums have outpaced last year’s rate by more than $140,000.
Separate sales taxes supporting 9-1-1 and central dispatching in the two counties showed similar strength.
Barry County’s .375 percent sales tax produced $149,489.79 with interest, up $21,379.66 from a year ago. That brought the 2020 sum to $1,463,921.70, over $100,000 more than the first 10 months of 2019.