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Smithville staff reports first-quarter FY2025: sales tax holding but city watches proposed grocery-tax cut
Summary
City staff reported first-quarter fiscal results showing revenues roughly on budget, highlighted the role of property-tax timing and building permits, and warned that Senate Bill 57’s proposed grocery-sales-tax phaseout could materially reduce sales-tax revenue over coming years.
City staff presented first-quarter fiscal 2025 results during the Smithville work session, saying overall revenues and expenditures are tracking close to budget but emphasizing that certain factors merit monitoring: timing of property-tax receipts from Clay County, sales- and use-tax performance, interest income, ongoing development-related building permits, and several planned water and wastewater projects.
Rick (staff member) told the board the general fund had received roughly 36% of budgeted revenues for the year to date, a number inflated by early property-tax receipts; he said property-tax receipts were at about 84% of expected annual receipts because a large county remittance typically arrives in January and another hit came a few days into February. Rick also said salary and benefits were “right on par” at about 25% of budget.
Sales tax and use tax performance so far was described as strong for the first quarter, but staff cautioned that…
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