Springfield, MO

Log in Subscribe

Springfield's sales tax check comes in ahead of projections

Posted online

The city of Springfield's sales tax revenues from the Missouri Department of Revenue continued to rebound after December missed the mark.

The February sales tax check was $3.6 million, beating city budet officials' $3.3 million projection for the month by 8 percent, according to a news release. January sales tax revenue of $4.4 million was 6 percent above the $4.2 million that was expected.

“After a below-budget December, we’re pleased to see this upward trend continue from January,” Finance Director David Holtmann said in the release.

However, the latest sales tax check was down nearly 4 percent from $3.7 million in February 2018.

Through February, sales tax revenue grew to nearly $31 million. That's 3 percent ahead of the $30.2 million figure city officials were predicting through February. The city's fiscal year began July 1, 2018, according to the release.

The February check represents sales processed by the state in January from transactions made mostly in December.

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.


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

Open for Business: carGo Technologies LLC

Cape Girardeau-based carGo Technologies LLC launched its ride-hailing and delivery services in the Springfield market; the 90-bed, $8.7 million Lake Stockton Healthcare Facility began operating; and First Home Bank officially changed its name to Stockmens Bank.

Most Read Poll
What Proposition S project are you most anticipating?

View results