Cape County continues climb toward likely record sales tax year

Figures released late last week by Cape Girardeau County Treasurer Roger Hudson show the county received $734,801.23 this month in its sales-tax account from the Missouri Department of Revenue, bringing the year-to-date collection to $7,063,047.70.

Hudson said if revenue for November and December come in flat — meaning at least the same amounts received as in 2020 for the final two months — the 2021 total will be more than $8.3 million, a new record high. The current annual record was set last year when more than $7.79 million was received.

Among the factors possibly contributing to the consistent rise in sales-tax revenue are inflation, growth of Cape County's retail sector, more disposable income and the marked increase in county population. On Aug. 12, the U.S. Census Bureau reported the county's population stood at 81,710, nearly 8% more than 2010's figure of 75,674.

In addition to the October sales-tax revenue, Hudson reported the county's Proposition 1 revenue this month was $734,800.90 (year-to-date: $7,066,461.15). Prop. 1's primary focus to fund road and bridge work.

Cape County's law enforcement and public safety levy, which voters authorized in a June 2020 plebiscite, generated $732,254.78 in October (year-to-date: $6,998,156.03).

The county's use tax on out-of-state and online purchases, earmarked as a funding source for upgrades to county facilities -- most notably the construction of the current Jackson courthouse — brought in $212,956.87 this month (year-to-date: $2,470,126.82).

Looking for more business news? Check out B Magazine, and the B Magazine email newsletter. Go to www.semissourian.com/newsletters to find out more.