The City of Excelsior Springs is pleased to present the Popular Annual Financial Report (PAFR) which details the City’s finances and administrative activities for the fiscal year ended September 30, 2018. This report provides a brief overview of where the City revenue comes from and where those dollars are spent, as well as trends in the local economy. This report is intended to summarize the financial activities of the City of Excelsior Springs and includes a portion of the information that appears in the 2018 Comprehensive Annual Financial Report (CAFR).
Where Does the Money Go?
Breakdown of Sales Tax Rate
The City’s sales tax rate of 8.975% is higher than many surrounding cities. This tax is divided among four different entities. The State of Missouri receives 4.225%, Clay County receives 1.25%, Friends of the Zoo receives 0.125% and the City of Excelsior Springs receives 3.5%.
Of the City’s 3.5% sales tax, 1% is for General Fund operations, 0.5% is for Capital Improvements, 0.5% is for Transportation Trust, 0.5% is for Public Safety and 1.0% is for Community Center debt service and operations. The City also has a use tax that is broken down in the same manner as the sales tax.
During fiscal year 2018 the City received $7,598,746 in sales and use taxes.