Longmont’s sales-tax revenue up 1.4%

LONGMONT – The city of Longmont’s revenue from sales- and use-tax increased 1.4 percent in August when compared with the same period a year ago, according to the city finance department’s latest tax report.

The report was for sales- and use-tax transactions made in August, with tax revenue collected in September. Longmont’s tax-revenue collections for the month totaled $3,714,194 up from $3,664,510 for August 2010. Automotive, food and utilities categories of sales-tax revenue all showed healthy gains in August 2011 compared with August 2010.

The manufacturing and vehicle categories showed use-tax revenue collection up in August  compared to the same month a year ago. The lumber category use-tax revenue was down in August 2011, mirroring a trend that started earlier in the summer.

SPONSORED CONTENT

The many benefits of simple, coordinated healthcare

Kaiser Permanente combines health care and coverage in one connected system to maximize employee health and minimize employer costs.

In total, the city’s sales- and use-tax revenue through August has increased 6.6 percent when compared to the same eight months in 2010.

Longmont has collected nearly $28.7 million in tax revenue through August, putting it at about 64.7 percent of its total budget target for the first eight months of the year. The city’s monthly budget amounts are based on five years of historical tax trend information, according to the report.