Branson hits sales tax revenue record high

The city’s sales tax revenues increased to $13.1 million, a 7.2 percent jump from fiscal 2005. Tourism tax revenue was up 6.3 percent, totaling $11 million. The yearly totals were helped by a strong September; sales tax revenues were up 35.8 percent for the month, while tourism tax collections rose 10.6 percent.

The 1.5 percent city sales tax, including general sales and transportation taxes, goes into the city’s general fund to pay for police, fire, public works and other city services. Revenue from the tourism tax, levied only on hotels, restaurants and ticketed attractions, is split between public infrastructure and marketing for the city.

“Branson continues to receive recognition nationally for business development and retention,” said Michael Rankin, the city’s economic development director, in a news release. “Branson will enjoy development opportunities for many years to come, adding to the quality of life to our citizens and guests.”

The city has benefited from tax increment financing districts for Branson Landing and Branson Hills Plaza, both of which opened in fiscal 2006. City officials say Branson Landing also was responsible for spurring other non-TIF projects, including the Titanic museum and Dick Clark’s American Bandstand Theater.

This story originally appeared in SBJ’s Nov. 14 free e-news Daily Update. Click here to register.[[In-content Ad]]