BLOOMFIELD, Mo. -- Stoddard County has collected $2,574,300.63 in sales tax revenue in 2014 which is $75,344.93 more than in 2013, according to figures released by the Missouri Department of Revenue.
The county received $207,855.40 in sales tax revenue in October this year. That is $18,855.40 below the revenue amount budgeted, according to County Clerk Joe Watson. Still, sales tax collections are up for the year.
The tax receipts for October this year show a marked upward trend over the past two years. They were $170,210 in 2012 and $198,149 in 2013, which is a sign that the local economy has shown growth over the last three years. The county receives revenue from two one-half-cent sales taxes.
County Clerk Joe Watson said the county is $74,963.63 above the budgeted amount for 2014. The 2014 budgeted amount for sales tax receipts was $2,499,337.
County revenue from the sales tax was down in 2013 before legislative action was taken to restore sales taxes on vehicles and equipment purchased out of state. The legislature passed a bill in 2013 that re-instated the sales tax on these types of transactions. The Missouri Association of Counties released information that the loss of those taxes severely impacted revenue to counties. That tax went into effect again after the bill was signed in the middle of 2013.
Watson said the legislation had a limit of two years in which the county could collect tax tax.. Within two years, local governments that did not previously have a voter-approved use tax (Stoddard County does not) must give voters a chance to repeal the sales tax for vehicles bought out of state or from individuals.
The wording on the legislation says local governments can put the issue on the ballot anytime after the November 2014 general election, but must have it on the ballot by the November 2016 election, according to Watson.