News Obituaries Sports 2019 Best of Siloam Springs Opinion Business Religion Football play of the week Special Sections Photos Contact Us Email Updates
ADVERTISEMENT
ADVERTISEMENT

Siloam Springs' sales tax receipts were up 53.06 percent in October compared to the same month last year.

Sales tax receipts were up $236,563 to $692,407 in October, compared to $445,844 in October 2018, according to the November issue of City & Town magazine.

Numbers were down last year because the 5/8th cent sales tax was not in effect. Siloam Springs has a total sales tax rate of 9.5 percent and the sales tax revenue it directly receives typically comes from 2 percent of the total.

Sales tax receipts were down in October 2018 due to the discontinuation of the 5/8th cent sales tax in July 2018, meaning that only 1 3/8 percent was collected, according to an October 2018 report in the Herald-Leader. The tax was reinstated in December 2018, returning sales tax receipts to normal levels.

County sales tax receipts were up $54,305 from $288,294 in October of 2018 to $342,294 in October 2019.

City sales tax receipts are used for utility infrastructure, repayment of wastewater treatment plant bonds, the city's general fund, public safety and the street department.

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

Other cities that saw an increase in city sales tax receipts were:

• Bentonville, up $1.18 million to $2.6 million

• Eureka Springs, up $23,396 to $268,658

• Fayetteville, up $163,007 to $4.03 million

• Gentry, up $37,765 to $100,127

• Rogers, up $217,785 to $3.51 million

• Springdale, up $229,715 to $2.84 million.

Cities that saw a decrease in city sales tax receipts were:

• Lincoln, down $3,474 to $48,232.

General News on 11/27/2019

Print Headline: Receipts highlight 5/8-cent sales tax impact

Sponsor Content

Comments

COMMENTS - It looks like you're using Internet Explorer, which isn't compatible with our commenting system. You can join the discussion by using another browser, like Firefox or Google Chrome.
It looks like you're using Microsoft Edge. Our commenting system is more compatible with Firefox and Google Chrome.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT