Sales tax rev­enue shows de­crease

Siloam Springs Herald Leader - - FRONT PAGE - By Hunter McFer­rin Staff Writer hm­c­fer­[email protected]

Siloam Springs city sales tax re­ceipts for last month showed a de­crease of $209,488.32 when com­pared to the same month last year.

Sales tax rev­enue for Oc­to­ber 2018 to­taled $445,844.11, while in Oc­to­ber 2017 this fig­ure was $655,332.43, re­flect­ing a 32 per­cent de­crease, ac­cord­ing to the No­vem­ber is­sue of City & Town mag­a­zine. Siloam Springs has a to­tal sales tax rate of 9.5 per­cent, and the sales tax rev­enue it directly re­ceives has typ­i­cally come from 2 per­cent of this.

The rea­son for the de­crease is due to the dis­con­tin­u­a­tion of the 5/8th cent sales tax in July, mean­ing that it only col­lected 13/8 per­cent last month; this is also the rea­son for the 23 per­cent de­crease seen in Septem­ber’s 2018 sales tax re­ceipts.

The tax will be re­in­stated in De­cem­ber, at which time yearover-year com­par­isons of the city’s in­come tax rev­enue should re­turn to nor­mal lev­els, said City Fi­nance Direc­tor Christina Pet­riches. As for county sales tax rev­enue, Siloam Springs saw an in­crease of $31,026.91 or 12.1 per­cent, from $257,266.95 in

Oc­to­ber 2017 to 288,293.86 in Oc­to­ber 2018.

For com­par­i­son, the sales tax rev­enues of some other cities in the North­west Ar­kan­sas re­gion are listed below.

• Ben­tonville — Up $322,350.50, from $1,966,073.88 in Oc­to­ber 2017 to $2,288,424.38 in Oc­to­ber 2018.

• Eureka Springs —

Up $26,833.86, from $218,427.68 in Oc­to­ber 2017 to $245,261.54 in Oc­to­ber 2018.

• Fayet­teville — Up

$183,797.16, from $3,683,569.63 in Oc­to­ber 2017 to $3,867,366.79 in Oc­to­ber 2018.

• Gen­try — Up

$11,182.39, from $51,179.63 in Oc­to­ber 2017 to $62,362.02 in Oc­to­ber 2018.

• Lin­coln — Up $6,569.77,

from $44,506.13 in Oc­to­ber 2017 to $51,705.90 in Oc­to­ber 2018.

• Rogers — Up

$339,142.38, from $2,950,508.36 in Oc­to­ber 2017 to $3,289,650.74 in Oc­to­ber 2018.

• Spring­dale — Up

$253,537.37, from $2,355,399.86 in Oc­to­ber 2017 to $2,608,937.23 in Oc­to­ber 2018.

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