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

“It’s an excellent alternative to consider the place we’re at January to June this yr, versus January to June of final yr,” Shoemaker mentioned. “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 continues to be seeing these will increase, whereas watching the inflation quantity carefully and making an allowance for the upper costs of the whole lot.

“What the numbers in June present us, mixed with what we had in May, reveals that the summer season season received off to an excellent stable begin,” Shoemaker mentioned. “We’re conserving 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 greater sales tax receipts than the identical month from the earlier yr.

“We’re more than happy on the stable numbers that we’re seeing. We’re hoping that pattern continues. The month to month quantity continues to point out stable reflections on that. It simply reveals that persons are persevering with to hunt South Dakota out, to hunt the Black Hills and Rapid City out to go to,” Shoemaker mentioned. “It additionally implies that persons are persevering with to spend on requirements and spend in the neighborhood. We at all times maintain an eye fixed 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, quite a lot of indicators there and people indicators stay stable and we’ll proceed to observe them month to month, particularly in mild of the inflation interval that we’re going by way of.”

In earlier years, just like the COVID-19 interval, Shoemaker says the town was fairly shocked by the numbers that they have been nonetheless capable of see.

“What we didn’t keep in mind was lots of people remaining at dwelling. They have been getting their stimulus checks and so forth. A number of that has turned over into do-it-yourself initiatives,” Shoemaker mentioned. “We additionally had some climate points. We had quite a lot of roofing initiatives 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.”