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University of Minnesota Extension presents retail trade analysis; estimates $370,000–$740,000 annual revenue from proposed local option sales tax
Summary
A University of Minnesota Extension analyst presented a 2022-based retail trade analysis and a local option sales tax model for the City of Crookston, reporting declines in firms and customer draw since 2011 and estimating a 0.5% local option tax would generate about $370,000 annually while a 1% tax would yield about $740,000.
Ronnie, a community economic extension educator with the University of Minnesota Extension, briefed the City of Crookston City Council on a retail trade analysis and a local option sales tax model based on the most recent public revenue data available.
The presentation summarized 2022 taxable-sales data from the Minnesota Department of Revenue and other state and federal sources and compared Crookston to Polk County, northwest Minnesota and statewide benchmarks. "Eating and drinking stores are the largest contributor of taxable sales in Crookston’s economy," Ronnie said, adding that category accounted for about $9.8 million in 2022 and represented roughly 38.7% of the city’s taxable sales in the dataset presented.
The analyst highlighted several findings: the number of firms in…
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