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March 7, 2013

Sales tax rebate revenue still climbing

— Local merchants started 2013 by continuing to do brisk business, setting another new monthly record for sales tax rebate revenue.

The City of Greenville’s year-to-date sales tax revenue also hit a new benchmark, according to a report released Wednesday by the Texas Comptroller’s office.

The City of Greenville is to receive a sales tax payment of $424,518.29 this month, representing an increase of 3.39 percent from the $410,573.93 collected during March 2012.

The city received $400,821.35 in sales tax rebate revenue in March 2011 and set the previous record for the month of March in 2010, when the city received $415,625.04.

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

So far this fiscal year, Greenville has received $1,575,013.68, representing an increase of 12.59 percent from the $1,399,596.88 collected through the same point in 2012 and also above the $1,399,297.46 collected through March 2011.

The previous record for sales tax rebate revenue collections, through March, was the $1,503,336.09 collected through March 2010.

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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