The Herald Banner, Greenville, TX

November 8, 2012

City's sales tax revenue keeps climbing

Herald-Banner Staff

GREENVILLE — The City of Greenville will likely end the fiscal year with a significant gain in sales tax revenue.

Local businesses reported another boost in sales tax rebate revenue in September, according to a report issued Wednesday by the Texas Comptroller’s Office.

The City of Greenville will receive a sales tax payment this month of $519,512.59, representing an increase of 5.98 percent from the $490,163.06 the city received in November 2011 and also higher than the $500,991.51 received in November 2010.

With one month of sales tax payments still to be counted toward the 2010 fiscal year, the City of Greenville has received $5,337,817.42 in sales tax rebate revenue, representing a 5.66 percent increase from the $5,051,695.91 received through November 2011 and also above the $5,29 million taken in through the same point in 2010.

The November sales tax rebate payments represent the city’s portion of sales taxes collected at local merchants in September by monthly filers and during July, August and September by quarterly filers, which were reported to the Comptroller’s office in October.

Sales taxes are one of the two main sources of revenue, along with property taxes, which feed the city’s general fund.

A portion of sales tax revenue is also rededicated toward the 4A economic development corporation.

Next month’s sales tax report will include the city’s final numbers for the 2012 fiscal year.