Watches & Warnings Warnings

City sales tax figures up 4.67 percent

City sales tax figures up 4.67 percent
City of Tyler
News
Wednesday, July 10, 2013 - 4:40pm

Information from the Texas Comptroller indicates that City of Tyler sales tax revenues deposited for the month of July have grown 4.67 percent as compared to July 2012, resulting in a cumulative fiscal year-to-date increase of 3.99 percent.

The reported revenue of $2,976,966 is comprised of $1,984,664 general sales tax revenue and $992,332 half-cent sales tax revenue. The figures represent receipts from May 2013 collections as there is a two-month lag before taxes are reported and remitted back to the City from the State.

“We are pleased to see this positive trend in our sales tax revenues,” said City Manager Mark McDaniel. “While not the average of 7 percent annual growth we saw prior to the recession a few years back, it is very encouraging that our local economy continues show signs of strengthening.”

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