Jamestown Mayor Kim Ecklund presents on sales tax revenues to City Council (February 26, 2024)
Total sales tax revenues fell short of what was budgeted in 2023 for the City of Jamestown.
Mayor Kim Ecklund said fourth quarter sales tax revenues for 2023 were $2,099,540 with total revenues for 2023 at $8,522,825. She said that represents a 4.7% increase in sales tax revenues from 2022, “But if you look at the next section with the 2023 budget, we did not meet our goal. We ended at 98.95% of our 2023 budget with a miss of $90,225 for a 1.05% miss.”
Ecklund said it’s too early in 2024 to determine how the year will go, but if trends continue, the city could miss this year’s budgeted amount of $8,921,053 by about $93,521.
She added that while the ten-year average increase in sales tax revenues, excluding 2023, has been around 3.58% she sees consumer spending “bottoming out” with inflation still affecting the price of goods at grocery stores and other places.
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