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April 10, 2013

Another record set in sales tax collections

Greenville’s economy continues to show signs of strength, as local merchants reported setting another monthly record for sales tax collections during February.

This month’s sales tax rebate revenue payment to the City of Greenville is again significantly higher than the one the city received in April 2012.

The revenue collected for the fiscal year to date is also well ahead of last year’s total, according to a report issued Wednesday by the Texas Comptroller’s Office.

Greenville is to receive a sales tax payment of $477,354.84 this month, representing an increase of 4.25 percent from the $457,885.24 received during April of last year — which was the previous record for the month of February — and also above the $414,645.50 received in April 2011.

The City of Greenville collected almost $396,000 during April 2010 and $432,554.48 in April 2009.

The figures released Wednesday reflect the portion of sales taxes collected at Greenville businesses in February, which were reported to the comptroller’s office in March.

For the fiscal year so far, Greenville has taken in sales tax revenue totaling $2,052,368.52, an increase of 10.49 percent from the $1,857,482.12, collected through April 2012. Greenville had collected a little more than $1.81 million collected through April 2011, almost $1.9 million through April 2010  and $1.83 million through the same point in 2009.

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.

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