Advertisement

In the face of a national 8.5% inflation spike, Rapid City sees best sales tax numbers in 5 years

Published: Apr. 13, 2022 at 4:38 PM MDT
Email This Link
Share on Pinterest
Share on LinkedIn

RAPID CITY, S.D. (KEVN) - Usually it takes around six to eight weeks to get Rapid City’s monthly sales tax number in, and February’s were released yesterday.

The City says the numbers follow the normal upward trend, which surpasses the national yearly inflationary index of just over eight percent, where this February’s numbers topped the scales at 11-percent higher than last year’s.

The month saw $2.6 million in sales tax revenue, which Darrell Shoemaker, Rapid City’s Communication Coordinator, calls the best in the last five years.

”The City relies on sales tax numbers to function. Its turned around to support the economy,” Shoemaker explains, “to support the city. It’s in infrastructure. It’s in all the things that we come to rely upon.”

Shoemaker says when the nation’s seeing increased grocery, gas and building material costs, it’s apparent inflation is making a difference in the numbers.

However, he calls it a bonus when they’re seeing numbers higher than what’s being attributed to inflation, like the past two months have.

Copyright 2022 KEVN. All rights reserved.