City Sales Tax Collections Continue Upward Trend
Posted/updated on: October 7, 2010 at 1:25 pm
TYLER — Information from the Texas Comptroller indicates that City of Tyler sales tax revenues deposited for the month of October have increased 10.89 percent as compared to the same period in 2009. City officials say Tyler compares favorably to the statewide average improvement of 6.1 percent. The reported revenue of $2,708,404.47 comprises $1,805,602.98 general sales tax revenue and $902,801.49 half-cent sales tax revenue. The figures represent receipts from August 2010 collections, as there is a two-month period before revenue is reported.
“October is the first month in the City’s fiscal year, and this is a tremendous way to start it off,” said City Manager Mark McDaniel. “For the 2010/2011 budget, we projected a two percent increase in sales tax collections; beating that projection right out of the gate positions us well moving forward. However, we will continue to be vigilant and monitor the budget closely before beginning to fill positions that we have held vacant in response to the slower economy.”
