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Three consecutive months of extraordinary tax revenue reflects a robust Rapid City economy

(MGN)
Published: Oct. 26, 2021 at 10:49 AM MDT
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RAPID CITY, S.D. (KEVN) - Rapid City has its current sales tax receipts and the numbers show a thriving market. According to the Rapid City Communications Division, this past summer the earnings were exceptional with revenue that surpassed the $3 million mark for the months of June, July and August. Over those three months in 2021, profit returns exceeded the $10 million mark showing a 17.4% increase as opposed to 2020 and a 20.77% increase from 2019.

Tax receipts for Rapid City display 15 consecutive months during which the city’s sales tax revenue outdid each respective month from the previous year. Only four times has the City garnered this achievement, exceeding more than $3 million in sales tax revenue for a month. The record-breaking months are December 2020. and this summer’s totals in June, July and August.

“The numbers remain consistently solid and continue to reflect robust activity in the community,” said City Finance Director Pauline Sumption. “The numbers reflect what we’ve been hearing and seeing and that is, it was a busy summer in the area.”

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