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July 10, 2014

Sales tax revenue continues to climb

GREENVILLE — Shoppers apparently spent a little more at local businesses during May, when compared to the same month one year earlier, to set a new record for the month.

The City of Greenville is also recording a modest gain in sales tax rebate revenue collected so far this fiscal 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 $520,441.11, representing an increase of 2.91 percent from the $505,685 the city collected during July 2013, which had been the previous record collection for the month of May.

The city received $456,701.68 during July 2012,  $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 $3.68 million in sales tax rebate revenue, representing an increase of 2.48 percent from the approximately $3.59 million collected through July 2013. The total is also well above the $3.3 million in sales tax rebate revenue collected through July 2012 and the $3.18 million taken in through July 2011.

The city collected about $3.35 million through July 2010, $3.2 million through the same point in 2009 and $3.21 million through July 2008.

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