Novem­ber sales tax rev­enue falls, should re­bound next month

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

Siloam Springs city sales tax re­ceipts for last month showed a de­crease of $137,647.61 when com­pared to the same month last year.

City sales tax rev­enue for Novem­ber 2018 to­taled $497,884.73, while in Novem­ber 2017 this num­ber was $635,532.34, re­flect­ing a 21.7 per­cent de­crease, ac­cord­ing to the De­cem­ber is­sue of City and Town mag­a­zine. The sales tax rate in Siloam Springs is 9.5 per­cent, and the rev­enue it re­ceives di­rectly typ­i­cally comes from two per­cent of this.

The rea­son for the de­crease is due to the dis­con­tin­u­a­tion of the 5/8th cent sales tax in July. Monthly rev­enues since the tax was dis­con­tin­ued have shown sim­i­lar de­creases when look­ing at year-by-year com­par­isons, as only col­lected 1 3/8 per­cent was be­ing col­lected. For ex­am­ple, there was a 23 per­cent de­crease in Septem­ber and a 32 per­cent de­crease in Oc­to­ber.

Vot­ers de­cided to ex­tend the tax in May and it will be re­in­stated this month, at which point tax rev­enues should re­turn to nor­mal lev­els, said City Fi­nance Di­rec­tor Christina Pet­riches, ac­cord­ing to an Oct. 21 re­port from the Her­ald-Leader. As for county sales tax rev­enue, Siloam Springs saw an in­crease of $15,108.60, or 5.8 per­cent, from $260,192.44 in Novem­ber 2017 to $275,301.04 in Novem­ber 2018.

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

• Ben­tonville — Down $180,143.20, from $1,815,361.45 in Novem­ber 2017 to $1,635,218.25 in Novem­ber 2018.

• Eu­reka Springs — Up $8,194.48, from $252,823.08 in Novem­ber 2017 to $261,017.56 in Novem­ber 2018.

• Fayetteville — Up $195,977.61, from $3,593,131.36 in Novem­ber 2017 to $3,789,108.97 in Novem­ber 2018.

• Gen­try — Up $16,018.84, from $50,784.51 in Novem­ber 2017 to $66,803.35 in Novem­ber 2018.

• Lin­coln — Up $5,745.74, from $44,272.22 in Novem­ber 2017 to $50,017.96 in Novem­ber 2018.

• Rogers — Up $16,135.03, from $3,270,601.31 in Novem­ber 2017 to $3,286,736.34 in Novem­ber 2018.

• Spring­dale — Up $75,902.33, from $2,462,441.66 in Novem­ber 2017 to $2,538,343.99 in Novem­ber 2018.

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