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June 12, 2014

City sees big gain in monthly sales tax revenue

GREENVILLE — The registers at local businesses must have been ringing loudly this spring.

Sales tax rebates collected by the City of Greenville during April reflected a huge increase from the totals seen one year earlier.

The year-to-date figures also represent an increase when compared to 12 months ago, according to a report issued Wednesday by the Texas Comptroller’s Office.

The City of Greenville received a June sales tax payment of $531,936.90, representing an increase of 13.23 percent when compared to the $469,772.29 collected in June 2013. The city took in $456,266.68 in sales tax rebate revenue during June 2012, $422,495.79  in June 2011 and $453,509.92 during June 2010.

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

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 $3.15 million in sales tax rebate revenue, representing an increase of 2.41 percent from the $3.08 million collected through June one year ago.

The City of Greenville received $2.85 million through June 2012, almost $2.8 million through June 2011 and $2.9 million through June 2010.

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