The City set a new record in sales tax collections in 2022, receiving a total of $3,183,395. This is 7 percent higher than the sales tax El Dorado received last year from its one-cent sales tax.
This also is the first time El Dorado has exceeded the $3 million mark. Previous years have totaled $2,974,496 in 2021; $2,683,572 in 2020; $2,825,900 in 2019; and $2,974,496 in 2018.
The one-cent sales tax has been approved by voters every five years since 1989. The tax has several purposes, including $1,650,000 for property tax reduction each year, $600,000 for street rehabilitation and $100,000 for economic development. Anything in excess of those amounts is used for capital projects.
“We thank everyone for shopping local,” said City Manager David Dillner.