Branson tax revenues on track for record year

As of the end of July, fiscal 2007 sales tax revenues were up 15 percent, to $12.6 million, from the same 10-month period last year. Tourism tax revenues were $9.6 million, a 9 percent increase from last year.

When the city’s fiscal year ends Sept. 30, officials predict records will be set, according to Finance Director Ferris Brown in a city news release.

The 1.5 percent sales tax, which includes general sales and transportation taxes, has increased in revenues for 16 consecutive months; tourism tax revenues have increased for 19 consecutive months. By the end of the fiscal year, Brown estimates there will be $1 billion in gross sales within the city limits.

Officials attribute the growth to new attractions, such as Branson Landing, which opened in May 2006; more marketing dollars being spent; and major chain stores such as Target and Home Depot that have opened recently, giving Branson residents reasons to shop in town instead of traveling to Springfield, according to the release.

With the Sept. 7 opening of Branson Convention Center and the Hilton Branson Convention Center Hotel, the city foresees another increase in tax revenues next year, according to the release. The convention center has booked 240 event days for the coming year and a half.

Also coming in 2008 is a new Wal-Mart Supercenter and the Sight & Sound Theater.

This story originally appeared in SBJ’s Sept. 12 free e-news Daily Update. Click here to register.