Sales tax, the city’s primary source of revenue, has been rising for the past seven years and is on target for a considerable rise this year, according to the sales tax history reported in the 2017-18 budget.
Sales taxes collected for the city’s general fund in the calendar year dipped to a low of $660,943 in 2010 before beginning to climb.
Taxes began to climb in 2011, reaching $688,461; $707,918 in 2012; $758,185 in 2013; $811,197 in 2014; $869,846 in 2015; and $849,602 in 2016.
Sales tax revenue reached $822,104 for the first six months of the 2017 calendar year, putting it on track for stronger gains than in recent years.
In addition to the general fund sales tax, the city collects a half-cent capital improvement sales tax and a special one-cent sales tax in three separate commercial improvement districts (CIDs).
The capital improvement tax and CID taxes are restricted on how they can be spent and do not go into the general fund.
Businesses located in the three CIDs on East Osage, West Osage and Thornton Road collect 8.975 cents on each dollar of taxable sales.
Businesses located outside the districts collect 7.975 cents on each dollar of collectible retail sales.
The city also receives property taxes, as well as taxes on utilities, licenses, motor fuel, permits and tourism taxes.
Total tax revenue for the 2017-18 budget year is projected at $2.9 million.