Springfield sales tax up 22 percent

(From the City of Springfield)

The City of Springfield’s May sales tax check from the Missouri Department of Revenue is up 22 percent, or $612,900, compared to the amount budgeted. The sales tax check was $3,425,775 compared to the budgeted amount of $2,812,875.

The check reflects sales processed by the state in April from transactions made primarily in March. On a year to date basis, with May being the 11th month in the 2017-2018 fiscal year, revenues are up 2 percent.

Strong sales tax results continue to indicate positive growth for the current year, said Finance Director David Holtmann

Compared to last May, monthly revenues are up 5 percent, or about $1,926,303.

The City heavily relies on sales tax revenues as its main source of revenue to fund vital services, such as police and fire operations. In Springfield, approximately 56 percent of revenue comes from sales tax and use tax.