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Posted: February 21, 2025
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF022625-03

Agenda Item Title:

Acknowledge 2024 Sales Tax Report

Origination Group:
Legal & Finance Committee
Staff Contact:
Daniel Ainslie
Location:
Council Chambers
Agenda Item Summary:
The attached charts include a summation of sales tax received throughout 2024. The General 2% Sales Tax collected in 2024 was 3.74% higher than collections in 2023. This compares to the statewide total increase in 2024 of 0.8%. Though total General Fund Sales Tax collections were $96,039.01 lower than budgeted. The adopted 2025 budget anticipates an increase of 2.74% over 2024 sales tax collections. The Tourism Sales Tax collected in 2024 was 4.74% higher than collections in 2023.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center

Recommendations:

Origination Recommendation Action:
Approve

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