Sales tax revenue increases $55,000

City sales tax revenue for August increased more than $55,000 compared to the same month last year.

The city received $512,002 for August compared to $456,227 for August 2012, according to City & Town magazine.

The city’s share of receipts from the county’s sales tax increased nearly $40,000. Receipts were $222,477 for August, and $182,987 for August 2012.

The city’s sales tax receipts come from its 2 percent sales tax. The total sales tax rate in Siloam Springs is 9.5 percent. All but 10 percent of the city’s sales tax receipts are allocated to items suchas street infrastructure and to pay bonds on the sewer plant. The rest goes to administration.

Starting Nov. 1, the police and fire departments will start to receive a share of the city’s tax revenue.

The share of county sales tax receipts pays on water utility infrastructure bonds.

Cities that had increases in their receipts for August are,

Bentonville, $1.94 million

Eureka Springs, $222,065

Fayetteville, $3 million

Gentry, $39,543

Lincoln, $34,845

Rogers, $2.45 million

Springdale, $1.81 million

Opinion, Pages 5 on 10/09/2013