Rifle, New Castle budgets see increases in sales tax revenue | PostIndependent.com
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Rifle, New Castle budgets see increases in sales tax revenue

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Rifle and New Castle are seeing decent increases in tax revenue, according to financial administrators.

According to Rifle figures, the inclusion of December figures shows a nearly $480,000 increase in sales tax collections for the fiscal year 2020 compared to 2019. In addition, with the help of a $73,000 increase in building use tax revenue, it increased the grand total in 2020 collections from about $11.03 million to about $11.6 million.

The city, however, did see some dips between 2019 and 2020 fiscal years. Sales tax from lodging dropped from $423,943 in 2019 to $321,275 in 2020. Meanwhile, oil and gas collections dropped from $291,571 in 2019 to $194,432 in 2020.



RIFLE

Regular sales tax revenue

2019: $9.98 million

2020: $10.45 million

Building use tax revenue

2019: $179,071

2020: $251,902

NEW CASTLE

Regular sales tax revenue

2019: $1.58 million

2020: $1.9 million

Building use tax revenue

2019: $27,582

2020: $36,306

Trying to make up for those losses includes increases in Rifle’s liquor, marijuana and general retail sales. Liquor sales shot up from 2019’s $273,796 to 2020’s $313,869. Marijuana sales jumped from 2019’s $82,536 to 2020’s $162,496. General retail saw 2019’s $4.3 million in tax revenue collections increase to almost $4.8 million in 2020.

For New Castle, which only has monthly figures in tax collections, fiscal year 2020 saw more than a $334,000 sales tax increase from 2019, jumping to about $1.9 million from about $1.6 million.



New Castle’s building use tax also saw an uptick. Fiscal year 2020 saw $36,306 in collections compared to 2019’s $27,582.

rerku@citizentelegram.com


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