Monthly City of Tyler sales tax figures up

Tuesday, August 14, 2012 - 4:24pm

Information from the Texas Comptroller indicates that City of Tyler sales tax revenues deposited for the month of August have grown 2.05 percent as compared to August 2011, resulting in a 2.29 percent cumulative year-to-date increase.

The reported revenue of $3,272,314.48 is comprised of $2,181,542.99 general sales tax revenue and $1,090,771.49 half-cent sales tax revenue. The figures represent receipts from June 2012 collections as there is a two-month lag before taxes are reported and remitted back to the City from the State.

“Our sales tax revenues are continuing to grow at around two percent per month over last year’s revenues,” said City Manager Mark McDaniel. “We have budgeted for this level of growth through next fiscal year as we anticipate the economy to recover slowly from the recent downturn. We continue to hold the line on expenditures and focus on maintaining our service levels with fewer resources as we approach the end of our fiscal year.”

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