Grand Island’s Taxable Net Sales Set Record in May | Local news from the Big Island
On average, the retail and service industries account for over 70% of Grand Island’s net taxable sales.
With the opening of the company which was primarily encouraged to stay put during the pandemic to bring the virus under control, revenues from Grand Island’s accommodation tax and its food and beverage tax declined as events that attract visitors have been canceled or reduced due to the pandemic.
In May, the lodging tax brought in $ 92,577, up from $ 20,957 in May 2020. In Buffalo County, the lodging tax was $ 107,137, up from $ 34,731 in May 2020. In the county Adams, it was $ 22,099, up from $ 6,506 in May 2020.
The pandemic has also reduced the ability of people to eat meals for the most part outside of their homes. Many restaurants were closed for a while and when they reopened they were only allowed a certain number of customers to meet health requirements in the event of a pandemic. Drive-through and restaurant deliveries have been a popular alternative to restaurant meals.
Now that the restrictions have been lifted, in June Grand Island’s food and beverage tax revenue stood at $ 238,615, compared to June 2020, when it stood at $ 172,011 . That’s an increase of 38.72%. For the year, $ 1.847 million in food and beverage taxes were collected, compared to $ 1.638 million in 2020. This is an increase of 12.76%.
May was also another good month for motor vehicle sales in Hall County at $ 16.429 million, up from $ 4.236 million in May 2020. This is a 287% increase. Motor vehicle sales were the first economic indicator to show improvement following the pandemic. The strong sales are also reflected in the context of the scarcity of new and used cars and the higher prices paid for transport by motor vehicle due to this scarcity.