FOR IMMEDIATE RELEASE
The City of Springfield’s July sales tax revenues from the Missouri Department of Revenue are down about 1.5%, or $70,967, compared to July 2018. The check was $4,639,417compared to the July 2018 revenue check in the amount of $4,710,384. The 12-month trend indicates revenues are up about 1.6%.
Compared to budget, revenues are down less than .5% on both a monthly and a year-to-date basis, as July is the first month of the new fiscal year.
The check reflects sales processed by the state in June from transactions made primarily in May.
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.
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For more information, please call Finance Director David Holtmann at 417-864-1632, or Assistant Director of Public Information and Civic Engagement Melissa Haase at 417-864-1003 or [email protected].