Rapid City sales tax revenue promising for the summer
RAPID CITY, S.D. (KEVN) - March proved to be another promising number for Rapid City. In March sales tax revenue was about $3.16 million. Up nearly 6% over March of 2021.
2021 sales tax was up 19% over 2020. The city reaches for about a two to three percent increase each year to consider inflation. Since we are seeing high inflation levels, that percentage to look for has gone up, but Rapid City is still seeing growth amidst increased prices. The first time the city saw sales tax revenue above $3 million was in December of 2020 and since then six other months have been above $3 million.
Looking to the busy summer tourism season, the city is hopeful for continued growth, says Darrell Shoemaker, Rapid City spokesperson, “All indications are showing that you know, should have steady visitation. So, we are hopeful that the numbers are good through the summer. Again, we just have to watch it month-by-month.”
The 2022 sales tax is at $8.36 million, up 9% over 2021.
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