Official Newspaper of Eddy County since 1883
Official Newspaper of Eddy County since 1883
Tax Commissioner Ryan Rauschenberger announced Wednesday, Dec. 26 that North Dakota’s taxable sales and purchases for the third quarter of 2018 increased. Taxable sales and purchases for July, August and September of 2018 were nearly $5.61 billion, an 18.17 percent increase over those months in 2017.
“With the highest percent year-over-year increase since the third quarter of 2012, this is the best taxable sales and purchases report we’ve seen in several years.” Rauschenberger said. “We have been seeing moderate growth the past few quarters. This slightly-larger growth shows the continued momentum in North Dakota’s economy.”
Rauschenberger pointed out that a vast majority of the cities, counties and sectors listed in the report showed increases. Eddy County was among the top five counties with the highest percent increases for the third quarter of 2018, showing an increase of 60.72 percent (compared to the third quarter of 2017). Dunn County had the largest increase (69.54 percent), followed by Mountrail, Logan, Eddy and McKenzie counties.
New Rockford was one of 37 cities among the 50 largest in North Dakota that posted increases. New Rockford’s taxable sales and purchases increased 14.04 percent from $2,657,571 in the third quarter of 2017 to $3,030,748 in 2018. The city collected approximately $60,600 in local sales tax during the third quarter as a result. Neighboring Carrington’s taxable sales and purchases stayed relatively flat, increasing a mere 1.42 percent to $13,989,267.
Thirteen of the 15 major sectors reported third quarter gains. Most notably, the utilities sector increased by $112.4 million (a 202 percent increase), the mining and oil extraction sector increased by $257.9 million (a 46.5 percent increase), and the wholesale trade sector increased by $247.4 million (a 22.9 percent increase).
“Retail trade was up this quarter, which is a good sign,” Rauschenberger added. “It is also notable that all except one of the most populated cities in the state saw an increase.” Grand Forks realized a decrease of 8.75 percent, while Williston, Dickinson, Minot, Fargo and Bismarck all had increases.
