Siloam Springs city sales tax receipts for last month showed a 4.7 percent increase when compared to January 2018.
Sales tax revenues for January 2019 totaled $655,157, while in January 2018, this figure was $624,292.84, an increase of $30,864.16, according to the February 2019 issue of City and Town Magazine. The sales tax rate for Siloam Springs is 9.5 percent and revenues for the city are generated from two percent of this.
The increase for this month is similar to that of last month, where a 6.5 percent increase was seen. This is a change from the second half of 2018, where sales tax revenues were consistently falling due to the expiration of the city's 5/8-cent sales tax. An extension for the tax was approved by voters in May but did not go back into effect until December, in the meantime, the city was only collecting 1.375 percent instead of two percent.
As for county sales tax revenue received by the city, there was a sharp decrease of 60.1 percent, from $449,406.63 in January 2018 to $280,722.62 in January 2019. This was consistent with the decrease for the county as a whole, which produced total sales tax revenues of $1,269,508.74 in January 2018 and $793,000.81 in January 2019.
For comparison, the city sales tax revenues of some cities in the Northwest Arkansas region are:
• Bella Vista -- Up 7.8 percent, from $157,534.49 in January 2018 to $170,864.67 in January 2019.
• Eureka Springs -- Up 5.6 percent, from $197,863.09 in January 2018 to $209,655.39 in January 2019.
• Fayetteville -- Up 4.7 percent, from $3,560,965.54 in January 2018 to $3,735,064.20 in January 2019.
• Gentry -- Up 22.7 percent, from $50,127.58 in January 2018 to $64,878.84 in January 2019.
• Lincoln -- Up 14.3 percent, from $39,083.44 in January 2018 to $45,615.58 in January 2019.
• Rogers -- Up 2.6 percent, from $3,052,444.46 in January 2018 to $3,133,619.14 in January 2019.
• Springdale -- Up 9.2 percent, from $2,268,012.19 in January 2018 to $2,498,667.03 in January 2019.
General News on 02/17/2019