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November 7, 2013

Sales tax revenue inches upward

GREENVILLE — The City of Greenville will likely end the fiscal year with a record collection in sales tax revenue.

Local businesses reported another slight nudge in sales tax rebate revenue in September, when compared to September 2012.

But the city’s year to date collections are still well ahead of the totals from the same point one year ago, according to a report issued Wednesday by the Texas Comptroller’s Office.

The City of Greenville will receive a sales tax payment this month of $521,330.05, representing a increase of just .34 of a percent from the $519,512.59 collected in November 2012. The city received $490,163.06 in November 2011 and $500,991.51 in November 2010.

With one month of sales tax payments still to be counted toward the 2010 fiscal year, the City of Greenville has received $5,681,625.52 in sales tax rebate revenue, an increase of 6,44 percent from the $5,337,817.42 taken in through November of last year. The city had collected just over $5 million through November 2011 and $5.29 million through the same point in 2010.

The November sales tax rebate payments represent the city’s portion of sales taxes collected at local merchants in September by monthly filers and during July, August and September by quarterly filers, which were reported to the Comptroller’s office in October.

The Comptroller’s office tracks 12-month sales totals between November 1 and October 31 annually, while cities track the sales between October 1 and September 31.

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.

Next month’s sales tax report will include the city’s final numbers for the 2013 fiscal year.

Last year, the City of Greenville reported a record annual sales tax rebate revenue collection of just under $5.8 million.

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