August 14th, 2008
Revenues Up 4.9% for Fiscal Year

Sales Tax Collections Continue Gains

San Marcos sales tax collections have risen for the second month in a row with collections of $1,581,005 in August, or 4.2% above August 2007.

For the fiscal year, which began last October, the City of San Marcos has collected $15,030,003 or $703,279 (4.91%) more than the same 10-month period a year ago.

The August report from the Texas Comptroller reflects sales that occurred in June. The city’s fiscal year runs from October 1 through September 30.

“San Marcos is in a better position than many communities because our sales tax portfolio includes both large and small businesses,” said Mayor Susan Narvaiz. “It also reflects the commitment of the City Council to participate in effective marketing partnerships both across the nation and internationally to insure that we remain the top retail destination in the state. Our outlet malls have continued investing and improving to keep the public enthusiastic about returning to shop.”

Sales tax collections have been as high as 15.68% more than 2007 revenues in February and saw three months of slight declines from April to June. Revenues have picked up this summer, however, indicating a strengthening economy.

“We use very conservative budget estimates for planning revenue from sales taxes,” said Rosie Vela, City Finance Director. “We are continuing a conservative budget forecast for our budget planning for 2009.”

By MELISSA MILLECAM
Communications Director – City of San Marcos