City Sales Tax Figures Up 6.8 Percent

TYLER — Tyler sales tax revenues deposited for the month of August have increased 6.80% as compared to August 2010. This has resulted in a 3.73% cumulative year-to-date increase. The reported revenue of $3,206,450 is comprised of $2,137,633 general sales tax revenue and $1,068,816 half-cent sales tax revenue. The figures represent receipts from June 2011 collections as there is a two-month lag before taxes are reported and remitted back to the City from the State.

The City manager presented the 2011-2012 proposed budget to City Council Wednesday. The plan estimates a three percent increase in sales tax revenue during the fiscal year. “We are being very conservative in our budgeting process,” explained City Manager Mark McDaniel. “The budget assumes a three percent increase in revenue from sales tax over the course of the next year. However, we monitor expenses and revenues on a monthly basis. If the revenues are not trending as we predicted, we will curtail spending to ensure we stay within budget.”