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Predicted huge sales tax drops still haven't materialized

Posted at 4:33 PM, Oct 06, 2020
and last updated 2020-10-06 17:33:49-04

With more than $517 million in estimated taxable sales in August, year-to-date sales in Lafayette Parish reached $4.04 billion—2.7% lower than 2019 but 2.0% higher than 2018, an analysis from LEDA found.

Parish-wide, sales have increased 16.4% from the low in April 2020.

In the City of Lafayette, year-to-date estimated sales are down 5.0% compared to 2019; however, sales are up 20.8% from the low in April 2020.

Year-to-date estimated sales are up in Carencro (8.1%), Youngsville (9.9%), and unincorporated areas (10.6%) compared to 2019. Sales are down in Broussard (7.3%), Duson (7.1%), and Scott (3.6%).

Estimated taxable sales between April 2020 and August 2020 are up in Broussard (1.2%), Carencro (3.7%), Scott (2.2%), Youngsville (8.8%), and unincorporated areas (21.1%). Sales are down 2.4% in Duson.

“We’re still holding our own on taxable sales and unemployment numbers as we recover from the economic shutdown in April. However, as I’ve said before we will get a true snapshot of the economy once the boost from the Federal Stimulus payments and enhanced unemployment benefits ends,” said Gregg Gothreaux, President and CEO of the Lafayette Economic Development Authority (LEDA). “Will those monies bridge us until the economy fully reopens? What will the economy look like in the meantime? We’re cautiously optimistic that our economy will continue to see increases as operating restrictions are eased and people feel comfortable resuming pre-pandemic activities.”

Sales tax collection numbers are gathered by the Lafayette Parish School System.