Rapid City sets record for monthly sales tax receipts for June

RAPID CITY, S.D. – Sales tax receipts for June set the monthly record at $3.7 million for Rapid City. The record of the primary half of the yr sales was additionally set.

“The numbers for June, $3.7 million, that’s the very best month for sales tax receipts that we’ve ever had final December. We have been shut,” Darrell Shoemaker, communications coordinator for the City of Rapid City, stated. “We have been about $3.63 million for final December, and December is often an excellent month for us as a result of it’s the vacation time. So, to come back in with a record month in June, we’re actually heartened by that.”

The reviews often are available from the state six to eight weeks behind, getting the June reviews now. The month is about 9.8% over June 2021, however with town getting the sixth month reviews, they will begin evaluating the primary half of the yr as effectively.

“It’s an excellent alternative to review the place we’re at January to June this yr, versus January to June of final yr,” Shoemaker stated. “Our totals for sales tax receipts for this primary six-month interval coming in at $18.2 million, that’s about 8.5% improve over the place we have been for that six month interval in 2021.”

The metropolis remains to be seeing these will increase, whereas watching the inflation quantity intently and taking into consideration the upper costs of all the pieces.

“What the numbers in June present us, mixed with what we had in May, reveals that the summer season season bought off to an excellent strong begin,” Shoemaker stated. “We’re holding charges regular with the speed of inflation slightly bit above, and in order that’s essential as we have a look at these month by month snapshots.”

With the June’s improve from final yr, it’s the twenty fifth month in a row that has seen larger sales tax receipts than the identical month from the earlier yr.

“We’re more than happy on the strong numbers that we’re seeing. We’re hoping that development continues. The month to month quantity continues to indicate strong reflections on that. It simply reveals that individuals are persevering with to hunt South Dakota out, to hunt the Black Hills and Rapid City out to go to,” Shoemaker stated. “It additionally signifies that individuals are persevering with to spend on requirements and spend in the neighborhood. We all the time maintain a watch out on our constructing permits and our valuation totals. You know, behind each constructing allow is an electrician, a welder, a development crew, painters and so forth. That cash will get turned over into our native economic system. So, a variety of indicators there and people indicators stay strong and we’ll proceed to observe them month to month, particularly in gentle of the inflation interval that we’re going by way of.”

In earlier years, just like the COVID-19 interval, Shoemaker says town was fairly stunned by the numbers that they have been nonetheless in a position to see.

“What we didn’t take into consideration was lots of people remaining at dwelling. They have been getting their stimulus checks and so forth. A whole lot of that has turned over into do-it-yourself tasks,” Shoemaker stated. “We additionally had some climate points. We had a variety of roofing tasks that contributed to our bigger numbers in 2020. Then you hit 2021, and lots of people have been simply glad to be out. We noticed these customer numbers proceed to blow up even from 2020.”