Sales tax increases
Aldermen heard the November 2020 State Department of Revenue report for the portion of state sales tax returned to the city which represents sales within the city limits for the month of October.
According to the report, $63,658 went into the town’s coffers resulting from the city’s share of the sales tax. The total is $15,664 over more than the same period in 2019
The collections also indicate an upswing in sales over the previous month, exceeding September 2020 sales tax by $15,737.
City officials hope to see the sales tax trend continue. Sales tax collections for the last couple years have tended to remain relatively steady, but in order to continue to provide city services at the levels demanded without upping property taxes, the town depends on a steady flow of sales within the city limits.
At next month’s town board meeting, aldermen will receive the Department of Revenue’s December 2020 report, which should reflect sales during November, and the following month, it will hear the January 2021 report, indicating December sales.
November and December sales at local stores encompass the Thanksgiving and Christmas holiday buying seasons which traditionally represents the best sales months for town retailers.
City officials will also be eyeing future Department of Revenue reports with interest, especially the February 2021 report to the board at its March 2 meeting. The tax figures given to the board at that time should include the first weeks of legal beer sales within the city limits.