Longmont sales, use tax revenue up 0.5%
Last Updated: 14:59 November 20, 2012
Longmont collected $4,166,626 in October, compared with $4,147,620 in October 2011. The collection in October represents sales made in September.
The sales-tax component of collections increased by 4.8 percent from the same month the year before, and the use-tax component increased by 5.4 percent.
Total sales- and use-tax collections for the year to date increased 3.5 percent compared with the same period in 2011, according to the report.
Automotive, food and general categories gained for the year to date compared with the same period in 2011. Automotive sales-tax revenue was up 9.2 percent; food sales tax was up 5.8 percent and general sales tax was up 2.1 percent. Utilities sales-tax revenue decreased 3.6 percent for the year to date, compared with the same period in 2011.
Lumber, manufacturing and vehicle categories all showed increases in use-tax revenues as well for the year to date. Use-tax revenue was up 63.1 percent for lumber, 30.2 percent for manufacturing and 10.1 percent for vehicles, compared with the same period in 2011.
In total, sales- and use-tax revenue collected in September, along with previous tax revenue collected in 2012, represents 73.3 percent of the cumulative 2012 Longmont city budget, according to the finance department’s latest tax report.
City lodging-tax revenue increased 28.6 percent month over month, with $27,683 in lodging-tax revenue collected from hotels in October for the month of September, compared with $21,528 in September 2011.
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