YOUR BUSINESS AUTHORITY

Springfield, MO

Log in Subscribe

Springfield sales taxes jump 22%

Posted online

Ahead of the holiday season, the city of Springfield’s sales taxes grew by 22 percent.

The November tax check from the Missouri Department of Revenue totaled $3.2 million, up from $2.7 million a year earlier, according to a news release.

The November total also was 15 percent above the $2.8 million city officials had forecasted for November.

“The city was pleased to see the November rebound after October’s revenues were 10 percent short of what we had budgeted for the month,” Springfield Finance Director David Holtmann said in the release.

With the latest check, sales tax revenue for fiscal 2019, which started July 1, is $18.9 million, a 3 percent increase over the city’s expectations for the first five months of the fiscal year.

The November check from the state represents sales processed in October from transactions made mostly in September. Springfield uses sales tax revenue from the Department of Revenue to fund the Police and Fire departments and other public services. Roughly 56 percent of the city’s general fund comes from sales and use taxes, according to the release.

Comments

No comments on this story |
Please log in to add your comment
Editors' Pick

Business Spotlight: The Thrill of Adventure

After moving, Artemis Overland Hardware is on pace to reach $400,000 in 2019 sales.

Most Read