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MUNICIPAL SALES TAX
<br />UNAUDITED
<br />TABLE 7
<br />The Issuer has adopted the provisions of Chapter 321, as amended, Texas Tax Code. In addition, some issuers are subject to a property tax relief
<br />and/or an economic and industrial development tax. The voters of the City approved
<br />the imposition of a 1/4 cent additional sales
<br />tax to be used
<br />for property tax reduction and a 1/4 cent sales tax for economic development purposes. Levy of the additional
<br />sales taxes began on October 1,
<br />1993, and the City received its first payment in December, 1993.
<br />Collections on
<br />a calendar year basis are
<br />as follows:
<br />City Collections as
<br />($) Equivalent of
<br />Calendar
<br />Total
<br />1.00%
<br />0.25%
<br />% of Ad Valorem
<br />Ad Valorem
<br />0.25%
<br />Year
<br />Collected
<br />City
<br />Prop Tax Red
<br />Tax Levy
<br />Tax Rate
<br />EDC
<br />2007
<br />$ 6,628,611
<br />$ 4,419,074
<br />$ 1,104,769
<br />69.61
<br />0.41
<br />$ 1,104,769
<br />2008
<br />7,051,372
<br />4,700,915
<br />1,175,229
<br />73.89
<br />0.41
<br />1,175,229
<br />2009
<br />7,591,224
<br />5,060,816
<br />1,265,204
<br />80.72
<br />0.42
<br />1,265,204
<br />2010
<br />7,029,392
<br />4,686,262
<br />1,171,565
<br />75.12
<br />0.39
<br />1,171,565
<br />2011
<br />7,202,519
<br />4,801,679
<br />1,200,420
<br />78.44
<br />0.41
<br />1,200,420
<br />2012
<br />7,268,103
<br />4,845,402
<br />1,211,351
<br />80.29
<br />0.42
<br />1,211,351
<br />2013
<br />7,624,480
<br />5,082,987
<br />1,270,747
<br />84.22
<br />0.43
<br />1,270,747
<br />2014
<br />8,786,209
<br />* 5,857,473
<br />1,464,368
<br />97.65
<br />0.49
<br />1,464,368
<br />2015
<br />8,173,696
<br />5,449,131
<br />1,362,283
<br />89.30
<br />0.45
<br />1,362,283
<br />2016
<br />8,472,647
<br />5,648,431
<br />1,412,108
<br />92.56
<br />0.46
<br />1,412,108
<br />2017
<br />8,689,014
<br />5,792,676
<br />1,448,169
<br />89.47
<br />0.45
<br />1,448,169
<br />2018
<br />8,827,668
<br />5,885,112
<br />1,471,278
<br />90.74
<br />0.50
<br />1,471,278
<br />2019
<br />8,921,837
<br />5,947,891
<br />1,486,973
<br />79.25
<br />0.43
<br />1,486,973
<br />2020
<br />9,950,289
<br />6,633,526
<br />1,658,381
<br />87.90
<br />0.45
<br />1,658,381
<br />2021
<br />2,682,577
<br />(a) 1,788,385
<br />447,096
<br />23.26
<br />0.11
<br />447,096
<br />(") Current year collections are for January 2021 through March 2021.
<br />* Sales taxes increased from the prior year due to a one time collection of an amount due from a prior period. This collection alone would
<br />have provided the City a 13.50% increase in sales taxes. The remaining increase is consistent with the expected sales tax revenues due to
<br />the recovering local economy.
<br />Source: State Comptroller of Public Accounts Website.
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