Tyler’s Monthly Sales Tax Figures Down One Percent

TYLER – Tyler’s sales tax revenues deposited for the month of February have decreased 1.01% as compared to February 2011. This has resulted in a .95% cumulative year-to-date increase.

The State Comptroller’s office reports revenue of $3,887,421.02 is comprised of $2,591,614.01 general sales tax revenue and $1,295,807.01 half-cent sales tax revenue. The figures represent receipts from December 2011 collections as there is a two-month lag before taxes are reported and remitted back to the City from the State.

“We are certainly disappointed in the sales tax figures we are seeing this month, particularly given the grown seen statewide as reported by the Comptroller,” said City Manager Mark McDaniel. “We are taking a close look at the situation to determine the factors that may be causing the decline. However, we have implemented a soft hiring freeze as a precautionary measure to ensure we are keeping our expenses in balance with current revenues and are scrutinizing spending closely. In addition, we will continue the postponement of any employee pay adjustments until such time that the revenues reach the three percent level we had committed to in our annual budget.”