We find ourselves in the middle of one of the greatest wealth transfer periods of all time. Those with wealth must decide whether they want to make transfers, and if they do, they must decide how much, to whom, when and in what structure?
Sponsor Generated Content
Longmont collected $5,471,457 in January, compared with $5,318,866 in January 2011. The collection in January represents sales made in December.
The sales-tax component of collections increased by 2.6 percent from the same month the year before, and the use-tax component increased by 27.5 percent.
Total sales- and use-tax collections for 2012 increased 4.5 percent compared with 2011, according to the report.
Automotive and food categories gained for the year, compared to 2011. Automotive sales-tax revenue was up 7.8 percent; food sales tax was up 7.9 percent. General sales tax was down 1.9 percent, and utilities sales-tax revenue decreased 0.8 percent for the year, compared to 2011.
Lumber, manufacturing and vehicle categories all showed increases in use-tax revenues for the year. Use-tax revenue was up 79.1 percent for lumber, 29.7 percent for manufacturing and 12.4 percent for vehicles, compared to 2011.
In total, sales- and use-tax revenue collected in January, along with previous tax revenue collected in 2012, was $2,197,047 more than the 2012 Longmont city budget, according to the finance department’s latest tax report.
City lodging-tax revenue increased 26.7 percent month over month, with $16,454 in lodging-tax revenue collected from hotels in January for the month of December, compared with $12,982 collected in January 2011. City lodging tax revenue increased 10.2 percent for the year, with $283,947 collected in 2012 compared with $257,566 collected in 2011.