 |  |
|
City sales-tax revenue increases by 5.4 percent
| | |
By CHUCK CLEMENT, Staff Reporter
| 03/07/2013 |
| | |
Taking the amount of Madison's collected sales-tax revenue for 2012 into consideration, the local economy last year remained on the mend with the city's sales-tax numbers increasing by 5.4 percent.
Jennifer Eimers, city finance officer, provided revenue numbers that showed Madison's sales-tax receipts totaled close to $2.9 million from 2012 sales of goods and services. Madison's 2011 sales-tax total stood at about $2.75 million.
Looking at some other communities in the region, Howard's 2012 sales tax revenue decreased by about 17.5 percent from the previous year, dropping from $438,000 to $361,000. Colman's revenue increased by 18 percent from $150,000 to $177,000. Arlington received a 10.8 percent increase collecting $585,000. Salem benefited from an 8.6 percent increase that brought in $513,000.
Eimers provided numbers that indicated Madison's merchants had a better 2012 holiday sales season than the previous year. The receipts that the state Revenue Department received in early 2013 showed Madison's December 2012 sales tax revenue at $296,000. That was a 10.4 percent increase from the December 2011 total of $268,000.
Eimers said the sales-tax numbers from the 2012 holiday shopping season provided a sign that residents were more confident about the economy than several years ago.
In the report from the Madison Finance Office for 2011, Jeff Heinemeyer, the previous city finance officer, noted that the area's economy seemed to have rebounded from the worst conditions of a national recession that lasted from 2008 to 2010. Heinemeyer reported that the sales-tax revenue collected in Madison during 2011 showed a double-digit percentage increase.
Information provided by the S.D. Department of Revenue showed that the city's sales-tax receipts had increased by 12.2 percent during 2011, rising from $2.45 million in 2010 to $2.75 million in 2011. The sales tax collected in Madison during 2009 also totaled about $2.45 million.
The 10 largest cities in South Dakota also saw positive growth in their sales tax revenue during 2012. Mitchell led with the largest percentage increase of 9 percent, providing the city with $11.5 million. Watertown had an 8 percent increase in 2012 that amounted to $14.4 million in sales-tax revenue.
Sioux Falls collected $103.6 million in sales-tax revenue last year, a 6.3 percent increase from 2011. Rapid City collected $52.6 million in 2012 municipal sales tax, a 6.7 percent increase.
| |
©Madison Daily Leader 2013
| |
| |
|
  | Send us your community news, events, letters to the editor and other suggestions. Now, you can submit birth, wedding and engagement announcements online too!
Copyright © 1995 - 2013 madisonet.com All Rights Reserved. |
|
