Tyler sales tax figures rise nearly 11 percent

Tyler sales tax figures rise nearly 11 percent
News
Thursday, April 12, 2012 - 11:27am

Information from the Texas Comptroller indicates that City of Tyler sales tax revenues deposited for the month of April have increased 10.86 percent as compared to April 2011, resulting in a 2.27 percent cumulative year-to-date increase.

The reported revenue of $2,702,320.08 is comprised of $1,801,546.72 general sales tax revenue and $900,773.36 half-cent sales tax revenue. The figures represent receipts from February 2012 collections as there is a two-month lag before taxes are reported and remitted back to the City from the State.

“We are very pleased to see this healthy increase in sales tax revenues this month,” said City Manager Mark McDaniel. “We saw a modest increase last month, so to see this upward trend continue is encouraging. The year-to-date increase of 2.27 percent is still shy of our budget of 3 percent growth; however, we are closing the gap and hope to reach the 3 percent goal before the end of the fiscal year.

At this time, we will continue with the soft hiring freeze that was put in place over the last two months as a precautionary measure to ensure we are keeping our expenses in balance with current revenues. In addition, we will continue the postponement of employee pay adjustments until we reach our goal of 3 percent growth.”

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