Posted on
Thursday, January 08, 2009
Thursday, January 08, 2009
Local Sales Tax Figures Lower Than Expected, Higher Than State
Tyler sales tax revenue for November was slightly lower than the city's budgeted 5 percent, but was nearly 3 percent higher than the statewide average.
"Tyler has continued to see moderate growth in our sales tax revenues as compared to communities across the country that are experiencing economic downturns," City Manager Mark McDaniel said.
According to information from the Texas Comptroller's Office, sales tax revenue increased 4.62 percent as compared to this period in 2008, and increased 4.31 percent from 2008 year-to-date figures.
The city budgeted for a 5 percent growth from the prior period.
The reported revenue of $2,706,534 is comprised of $1,804,356 in general sales tax revenue and $902,178 from half-cent sales tax revenue.
The 4.62 percent current month increase compares to the statewide average for Texas cities of 2.19 percent
In October, sales tax figures increased 9.15 percent compared to October of last year and in September increased 3.69 percent.
"We will continue to monitor collections closely in light of what is happening in the national economy; however, we continue to encourage Tylerites to support our local economy by shopping and dining in Tyler," McDaniel said.
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