Through August of this year, Minot sales tax collections continued to show growth when compared to 2014 monthly and year-to-date numbers, but a steep decline in September and October collections suggest the Minot is likely to end the year with little or no revenue growth overall.
The City of Minot budgeted for $11,500,000 per 1-cent sales tax in 2015 ($23,000,000 total). The City of Minot’s 2016 budget estimated collections for 2016 at $12,608,727 per 1-cent ($25,217,454 total).
City of Minot 2-Cent Sales Tax Collections
It’s important to note that this is NOT a budget shortfall. It simply shows the dramatic change in collections from 2014 to 2015.
This information was sourced from the ND Treasurer’s website. The Minot Voice also maintains monthly sales tax collection database you can view here. And in front of last April’s MARC vote, we published a presentation on Minot’s sales tax history and how we spend it. That can be viewed here.