Sales tax revenue holds strong during second quarter of year
For the first half of the fiscal year, Imperial’s sales tax income is running ahead of last year.
Jason Tuller told council members at their meeting last week that sales tax revenues are up $15,000 over collections this time of year in 2017.
In fact, he said five of the last eight months have seen an increase in the city’s sales tax receipts.
For the second quarter of 2018, Imperial took in $104,206.46 from the 1 percent sales tax on eligible purchases within the city limits.
May proved to be the best month of the quarter with $37,093.07 collected. April showed a tax collection total of $30,953.21 while June tallied $36,160.18.
Imperial’s city sales tax receipts each month are split 50/50 between economic development and community development projects. That split is made after the sales tax from motor vehicle sales is first deducted and placed in the city’s street fund as required by state law.
Imperial adds 1 percent sales tax on eligible purchases. Added to the state’s 5.5 percent, that equates to a 6.5 percent tax within the city limits.
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