San Marcos registers sales tax increase
The City of San Marcos received a 7.44 percent boost in sales taxes in July 2013 from the same month one year ago, collecting $1,659,868 from May retail sales.
San Marcos sales tax revenues have risen 8.99 percent for the fiscal year that began last October and posted increases for 39 of the last 42 months on a year-over-year basis.
However, the check San Marcos received from the state comptroller’s office was down from an allocation of $1,677,223 in June.
“As we begin our budget deliberations, this revenue increase helps strengthen our financial picture,” San Marcos Mayor Daniel Guerrero said. “Sales taxes are a significant resource for essential services, from public safety to parks and recreation. Supporting local businesses benefits businesses, their employees, public services and our quality of life.”
Most area cities in Central Texas also posted strong sales tax increases compared with the same month one year ago, including Georgetown at 18.65 percent and Schertz at 37.86 percent. Seguin saw a drop in sales taxes by 13.18 percent.
Sales tax collections account for 45 percent of general fund revenue for San Marcos.
The city said it maintains a fund balance of 31.1 percent in its general fund.