San Marcos Mercury | Local News from San Marcos and Hays County, Texas

January 14th, 2011
San Marcos sales tax revenues on the rise

STAFF REPORT

The city of San Marcos has received sales tax collections of $1,659,540 for sales in November, an increase of $216,829.80, or 15.03 percent compared to the previous year.

“This is the third consecutive month where sales tax revenues increased by double-digits,” said Mayor Daniel Guerrero. “It represents the largest sales tax collection for the month of November in the city’s history.”

San Marcos had a 14.6 percent increase in sales tax collections for the first three months of the 2010-11 fiscal year and has averaged 7.34 percent monthly increases over the last year. A number of central Texas cities experienced increases compared to November 2009, including Kyle at 14.11 percent, Austin at 13.15 percent, Georgetown at 12.81 percent, and New Braunfels at 10.26 percent. Some cities also saw reductions.

Area cities had the following results for November sales tax collections:

  • San Marcos          15.03
  • Kyle                        14.11
  • Austin                     13.15
  • Georgetown            12.81
  • New Braunfels       10.26
  • Seguin                     – 1.20
  • Round Rock           -14.53

Taxes from retail sales account for 45.7 percent of the General Fund income for the City of San Marcos. San Marcos maintains a healthy fund balance of 30.2 percent in the General Fund and has financial policies in place that closely track revenues and expenditures to respond to variations in revenues.

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