City of Tyler sales tax revenue rise again - KYTX CBS 19 Tyler Longview News Weather Sports

City of Tyler sales tax revenue rise again

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City of Tyler:

TYLER (KYTX) - Information from the Texas Comptroller indicates that City of Tyler sales tax revenues deposited for the month of October have grown 2.63 percent as compared to October 2011.  October is the first month of the City's fiscal year, so the cumulative year-do-date increase is also 2.63 percent.  

The reported revenue of $2,815,711.47 is comprised of $1,877,140.98 general sales tax revenue and $938,570.49 half-cent sales tax revenue. The figures represent receipts from August 2012 collections as there is a two-month lag before taxes are reported and remitted back to the City from the State.                    

"This is a great way to start off our new fiscal year," said City Manager Mark McDaniel.  "The six percent growth we saw during September helped us end 2011-2012 in a strong financial position and the continued growth this month has set a positive tone for the upcoming fiscal year. 

"Because revenues have continued to slowly climb and are nearing the levels we were at prior to the economic downturn, we have lifted our soft hiring freeze," added McDaniel.  "Of course we will continue our rigorous efforts to operate as efficiently as possible as these have served us well and allowed us to lower property tax rates more than 60 percent in the last 15 years."

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