After strong start to year, sales tax moderates in March
April 19, 2021
Sales tax revenue is still growing in Sioux Falls – but not as much as it was at the start of the year.
March collections, which represent February sales, were up 3.3 percent year-over-year. That follows increases of 6.8 percent and 7.4 percent in the two months prior.
For the 12-month period, it’s down 0.8 percent.
Remote retailer sales continued their sharp increases, with February transaction rising 31 percent year-over-year. Sales at lumber, hardware and garden supply stores increased 27 percent.
After showing an increase in January transactions, eating establishments saw a slight year-over-year drop in February, down 1 percent.
Electric, gas and sanitary services fell 1 percent as well.
The entertainment tax in March was down 8.6 percent after being up 3.1 percent in February. For the 12-month period, it’s down 15.8 percent.
The report is unaudited, so numbers could still change.