Friday, September 5, 2014
Thursday, June 19, 2014
Treasurer Distributes Money To Schools
FOR IMMEDIATE RELEASE
6/17/14
TREASURER DISTRIBUTES MONEY TO SCHOOLS
The Platte County Treasurer’s Office
distributed $354,682.17 to Platte County schools this week. Under Missouri law, money collected by the
county from proceeds of criminal fines and asset forfeitures are distributed to
schools within the county. Allocation of
the money is based on enrollment and is transferred to the district’s school
building revolving fund.
“I don’t usually say ‘I’m happy’
when I’m distributing funds, but this is the exception,” Platte County
Treasurer Rob Willard said. “Anything
our office can do to help kids makes it all worth it.”
Park Hill, which has the largest
enrollment of any school district in Platte County, received $246,864.65;
Platte R-III received $76,563.86; West Platte $13,831.81; North Platte
$12,814.69; and East Buchanan, which has a small portion of its boundary within
Platte County, received $71.09.
The Treasurer’s Office distributes
proceeds from the school fund twice a year.
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Tuesday, June 17, 2014
SALES
TAX
The
monthly sales report is available and online at the county’s website www.co.platte.mo.us under “News and Announcements.”
Sales
tax receipts fell 9.9% in the June 2014 report compared to the same period in
2013. The county sales tax receipts are still
in positive territory for the first six months of the year compared to the same
period a year ago, rising 5.8%.
The
use tax continued riding its traditional roller coaster falling 33.1%. Go to plattemoney.com next week for more on
the use tax.
Together,
the county is down 0.9% for total sales and use tax combined compared to the
same time last year.
I’m
not a betting man and some of my predictions have been way off over the years
(ie: the 1985 Royals will be a dynasty, I would “drive” my flying car to
college, Coke would never change its recipe… you see where this going.) However, if the trend of the last three years
continues, the range between the average percentages of growth for a month compared
to the same month in 2013 should level out during the second half of the year.
Double
digit fluctuations have been the norm in the first two or three months of the
year, but that didn’t happen this year.
Perhaps we’re seeing a statistical correction.
LOCAL
INVESTMENT
One
of the main responsibilities of a county treasurer is to invest money “not needed for current operations” of the government. For instance, the county government may set
aside a certain amount of revenue to cover certain expenses at later point in
the fiscal year.
For the first time in Platte County
history the County Treasurer’s Office expanded the investment policy to also
include of the goal of enhancing local investment. To that end, the Treasurer’s Office will be tripling
its investment deposits with the Bank of Weston in the coming weeks. More money in local banks helps the local
economy.
County tax dollars do more to help
Platte Countians when they are deposited in Weston, Platte City or Parkville and
not in a bank in New York, Los Angeles or Chicago.
And besides, we’re just plain nicer
in Platte County.
Monday, June 9, 2014
June sales tax numbers
June sales tax receipts are down 9.9% compared to the same time in 2013. However, the County is still up 5.8% for the year.
The use tax was 33.1% for the same period but is only down 12.1% (Commission did budget for negative use tax growth).
Full report later this week
The use tax was 33.1% for the same period but is only down 12.1% (Commission did budget for negative use tax growth).
Full report later this week
Tuesday, May 27, 2014
A Tale of Two McDonald’s
It was the best
of times, it was the worst of times, it was the age of wisdom, it was the age
of foolishness… it was the age of the Big Mac, it was the age of the McNugget…
The
monthly sales tax report for Platte County is online and available at www.co.platte.mo.us under News
Announcements.
After
I sent out the email announcing the sales tax numbers for the May report, an astute county citizen asked me about the calculation of sales taxes and the sales tax rate. Specifically, how much sales tax do we really pay? How is that figure calculated per
purchase? The short answer: it depends.
All
Platte County residents pay 4.225% for the Missouri portion of sales tax and
1.375% in county taxes (broken down below) on purchases made within the county. However, the rest of the sales tax amount is
dependent on where the business is located. Different cities have different sales tax rates and certain business districts have additional taxes in additional to those rates.
Take
McDonald’s for instance: a large Coke at the Platte City McDonald’s will cost
$1.08, because you’ll pay eight cents in sales tax (4.225% for Missouri, 1.375%
for Platte County and 2.375% for Platte City).
Drive
south on I-29 to the McDonald’s on 64th Street and the very same
large Coke will cost you $1.11 – state and county portion of 5.6%, plus Kansas
City’s rate of 2.8750%, plus additional 2% for the “restaurant tax on prepared
food.”
If
you’re shopping in an area that’s part of a Transportation Development District (TDD) or a Community Improvement District (CID), an additional sales tax could be levied on
a purchase. The proceeds collected from
that sales tax are then used by the property owner for improvements to the
roads and common areas of the shopping center. For instance, if the McDonald's moved a different part of 64th Street, there could be an additional tax for a TDD.
The
Missouri Department of Revenue has a chart on their website listed
municipalities and the sales tax rates and the City of Kansas City also lists
the rates for these special districts.
The
county and state sales tax is 5.600% and is broken down as follows...
4.225% Missouri portion
3.0% Missouri general revenue
1.0% Missouri education
0.125% Missouri conservation
0.1% Missouri parks and soil
1.375% Platte County portion
0.5% Platte County general revenue
0.5% Platte County parks/trails/storm
0.375% Platte County roads
MO
DOR’s website has the following rate listing by jurisdiction
However,
Kansas City has an additional sales tax for different things and those rates
can be found at the KCMO website
Wednesday, May 7, 2014
May sales tax numbers
April showers bring May... positive sales tax numbers? Platte County general sales tax receipts up 54% (fifty-four) over May 2013. Use tax up 50.1%. Full report out next week.
Sunday, May 4, 2014
April Sales Tax Down; Still Up For Year
Sales tax receipts for April 2014 were down over 5% compared to April 2013, while the use tax fell 55%. While the use tax is down for the same period compared to 2013, the county sales tax receipts are still up for the year by 2.3%
The full report is available online at http://co.platte.mo.us/docs/treasurer/pdf/2014/04_2014.pdf
The full report is available online at http://co.platte.mo.us/docs/treasurer/pdf/2014/04_2014.pdf
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