City Sales Tax Figures Up 4.67%

TYLER — Tyler’s sales tax revenues deposited for the month of July have grown 4.67% as compared to July 2012. According to the Texas Comptroller, this indicates that the city’s sales tax revenues deposited for the month of July have grown 4.67% as compared to July 2012, resulting in a cumulative fiscal year-to-date increase of 3.99%. “We are pleased to see this positive trend in our sales tax revenues,” said City Manager Mark McDaniel. “While not the average of 7 percent annual growth we saw prior to the recession a few years back, it is very encouraging that our local economy continues to show signs of strengthening.”

The reported revenue of $2,976,966 comprises $1,984,664 general sales tax revenue and $992,332 half-cent sales tax revenue. The figures represent receipts from May 2013 collections as there is a two-month lag before taxes are reported and remitted back to the City from the State.