Booneville’s one percent sales tax topped the $60,000 collection mark for the fifth time in seventh months in July.
City officials were remitted $62,532.23 last week for its sales tax, pushing the year-to-date total to more than $416,000, which keeps the total on pace to surpass the $700,000 mark.
Receipts for the first seven months of the year are 4.7 percent ahead of the 2018 totals.
July’s receipts from State Treasurer Dennis Milligan’s office were $2,267.97, or 3.8 percent more than the June collection. The July 2018 receipts are $2,898.62, or 4.9 percent, better than the July 2018 total.
Under the current distribution formula of the tax a city improvement account receives 30 percent of the collections and the police department another 22 percent. The fire department and Area Agency/Senior Center get 10 percent each; the airport 7 percent; the street department, parks commission and animal control 5 percent each; the BDC/Chamber 4 percent and the Oak Hill Cemetery fund 2 percent.
The sales tax was approved by city voters for a fourth five-year period in 2015. City officials have started looking into the process to ask voters to renew the tax for a fifth term.
In addition to the two one percent sales taxes collected by the City of Booneville — one is dedicated to the operation of Mercy Hospital here — purchases in the city are subjected to two cents on the dollar for Logan County.
One half cent was approved in 2016 to build and equip with another half cent approved to at the same time to maintain a new jail in the county.
Construction costs of the facility was covered by two bond issues totaling $12.1 million.
With $96,626.50 remitted to the county in July, the taxes have taken in more than $2.72 million to date.
In 2019 the tax has taken in $672,256.50, which is an increase of 1.8 percent over the first seven months of 2018.