The Herald Banner, Greenville, TX

July 11, 2013

City sees surge in sales tax revenue

Herald-Banner Staff

GREENVILLE — Local businesses appeared to have enjoyed a healthy spring season, as the City of Greenville recorded another significant increase in sales tax rebate revenue during May.

The revenue collected so far this fiscal year is also reflecting a substantial gain over last year, according to a report issued Wednesday by the Texas Comptroller’s Office.

The City of Greenville will receive a July sales tax payment of $505,685, representing an increase of 10.72 percent from the $456,701.68 collected during July 2012, which had been the record for the month.

Greenville received $404,933.78 in sales tax rebate revenue during July 2011 and $451,638.99 in July 2010. The city received $433,743.75 in July 2009 and $456,354.92 in July 2008

The July sales tax rebate payments represent the city’s portion of sales taxes collected at Greenville businesses in May and reported to the Comptroller’s office in June.

Sales taxes are one of the two main sources of revenue, along with property taxes, which feed the city’s general fund. A rededication of a percentage of the sales tax revenue goes toward the 4A economic development corporation.

So far this fiscal year, the City of Greenville has received almost $3.59 million in sales tax rebate revenue, representing an increase of 8.38 percent from the $3.3 million in sales tax rebate revenue collected through July 2012. Greenville had taken in about $3.18 million through July 2011.

The city collected about $3.35 million through July 2009, $3.2 million through the same point in 2009 and $3.21 million through July 2008.