Holiday sales set San Marcos tax revenue record
SUBMITTED REPORT
The city of San Marcos has received record sales tax collections of $2,366,150.40 for retail activity in December, the highest windfall in the city’s history.
“The total revenues for this month are the largest sales tax collection in our history,” Mayor Daniel Guerrero said. “The December 2010 holiday season surpassed the previous record of December 2008 by 6.2 percent.”
For the first four months of Fiscal Year 2011, the San Marcos has seen a 12.2 percent increase in sales tax revenues compared to Fiscal Year 2010. The city’s fiscal year runs from October to September each year.
The majority of the cities in the region also showed strong increases, including Georgetown and Round Rock at 24.9 percent and 13.87 percent, respectively.
The city of Kyle also set an all-time record. Area cities had the following results for December sales tax collections:
- San Marcos — 7.68 percent
- Georgetown — 24.87 percent
- Kyle — 14.63 percent
- Round Rock — 13.87 percent
- Seguin — 10.84 percent
- New Braunfels — 9.75 percent
- Austin — 1.51 percent
Taxes from retail sales account for 45.7 percent of General Fund income for the city of San Marcos. The city 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.
RELATED IN THE MERCURY:
- San Marcos sales tax revenues on the rise | 01/14/2011
- San Marcos marks big gain in sales tax revenue | 12/09/2010
- San Marcos sales tax revenue jumps nearly 7 percent for January | 03/14/2011
- San Marcos sales tax revenues up 18.9 percent | 05/13/2010
- San Marcos sees another sales tax revenue increase | 04/13/2010
Posted by Brad Rollins
on 02/14/2011. Filed under Business, News, San Marcos.
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