A Strong Finish To A Big Year

Yankton’s Bed, Board, Booze tax (BBB) was up a surprising 27.01% in December and finished the year up 19.94% over 2020. Meanwhile, more lodging options are taking shape, as workers took advantage of this week’s mild weather to make progress on the new hotel being build at the Yankton Mall.

The City of Yankton’s 2021 sales tax revenues have set the bar high for 2022.

This week, the December revenue numbers were released with the month up 12.77% over the same reporting period a year ago. Overall, the city finished the year up 11.14% overall.

The city took in $11,950,306 in total sales tax revenues in 2021, its first ever $11 million year.

City Finance Officer Al Viereck told the Press & Dakotan that the numbers came with a figure not usually seen so late in the year. The Bed, Board, Booze tax (BBB) was up 27.01% in December and ended the year up 19.94% over 2020.

“Another real pleasant surprise was the BBB,” he said. “Those were nice, encouraging numbers to see.”

BBB figures over the last two months have been closer to what has been seen during the peak summer months in 2018 and 2019.

Over the course of the year, the city also recorded eight months that saw total revenues exceed $1 million — a feat only accomplished one time before 2021 (July 2020). In December, the city was just over $400 short of breaking this mark again.

Viereck said that some of that revenue is likely driven by COVID-19 pandemic-driven inflation, there are some positive signs to pick out.

“I’m hopeful it’s more than just inflation — I think it’s that the economy is starting to crank back up again and people are starting to get out a little bit,” he said. “We do hedge that on the concern that there’s a lot happening with COVID right now again, but these are nice numbers to hear and we hope they continue.”

Looking forward to 2022, he said the city will stay mindful but hopeful.

“We’re real cautionary because of what’s going on with COVID and all this stuff,” he said. “But to finish out this last year the way we did is certainly encouraging. Hopefully we can get some of this COVID weariness behind us and move on.”

Much of the state fared similarly to Yankton in 2021.

Among the Top 10 First Class Cities plus Vermillion, only Aberdeen saw a fall in revenues (-2.51%) on the year. However, this came on the heels of an exceptionally high-revenue 2020 for the city. Sioux Falls ended up being the biggest winner in 2021, with revenues up 19.25% on the year.

Vermillion also saw a big 2021, up 15.46% on the year.

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