The Herald Banner, Greenville, TX

January 10, 2013

Local cash registers were ringing in November

By BRAD KELLAR
Herald-Banner Staff

GREENVILLE — People must have been buying a lot — a whole lot — of merchandise from local businesses in November, based on a report issued Wednesday by the Texas Comptroller’s Office.

The final numbers for the holiday season won’t be in until next month, but the City of Greenville saw a significant increase in the amount of sales tax rebate revenue it received this month, compared to the amount it received in January 2012.

The report indicated the city would receive a sales tax payment of $509,033.20 for the month of January, representing an increase of 23.61 percent from the $411,789.41 collected one year ago.

The City of Greenville received $380,633.29 in January 2011, $447,230 in January 2010 and $432,799.72 in January 2009.

The January sales tax rebate payment represents the city’s portion of sales taxes collected at local merchants in November and reported to the Comptroller’s office in December.

The report also represents the start of the 2012/2013 fiscal year. The Comptroller’s office tracks 12-month sales totals between Nov. 1 and October 31 annually, while cities track the sales between Oct. 1 and September 31.

The full results of the holiday shopping season will be known when the next sales tax report is released in February.

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.