Tyler Sales Tax Figures Up 5.34 Percent

TYLER — Tyler’s sales tax revenues for December have increased 5.34% compared to December of last year. According to the state comptroller’s office, this has resulted in a 2.46% cumulative year-to-date increase. The reported revenue of $2,538,703 comprises $1,692,468.93 general sales tax revenue and $846,234 half-cent sales tax revenue. The figures represent receipts from October 2011 collections as there is a two-month lag before taxes are reported and remitted back to the City from the State.

“We are pleased to see this positive trend in our sales tax revenues,” said City Manager Mark McDaniel. “However, we will continue to monitor revenue closely to ensure the City remains in a positive position. Each Department within the City prepares a monthly financial forecast to align our current revenues with anticipated expenses. This process assures that should revenues decline, we are prepared to reduce expenditures accordingly.”