GREENVILLE —
In another indicator that the local economy is showing signs of improvement, the City of Greenville reported receiving a record collection of sales tax rebate revenues, both for the month of December and for the previous fiscal year.
The Texas Comptroller’s office released the December monthly sales and use tax report Wednesday, which represented the city’s portion of sales taxes collected at local merchants in October and reported to the Comptroller’s office in November. The report was the last to be issued for the 2011/2012 fiscal year.
The Comptroller’s office tracks 12-month sales totals between Nov. 1 and Oct. 31 annually, while cities track the sales between Oct. 1 and Sept. 31.
The city will receive a sales tax payment of $459,551.63 this month, a record for the month of December which also represented an 8.21 percent increase from the $424,656.95 received in December 2011. The City of Greenville received a sales tax rebate payment of $399,705.03 in December 2010.
During the past 12 months, the City of Greenville received $5,797,369.05 in sales tax rebate revenue, representing an increase of 5.86 percent from the almost $5.48 million received through December 2011 and also above the almost $5.7 million in sales tax rebate revenue collected through the end of the 2009/2010 fiscal year, which had been the previous record.
Sales taxes are one of the two main sources of revenue, along with property taxes, which feed the city’s general fund.
A portion of sales tax revenue is rededicated toward the 4A economic development corporation.
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