The City of Amarillo is telling reporters that sales tax collections are up 2.22 percent for the current fiscal year.
According to the City of Amarillo, sales tax revenues are up 4.5 percent this month, on track to clear 2.22 percent up for the fiscal year. This will translate to a $922,000 revenue increase, City officials say.
In a statement, Councilwoman Elaine Hays, who has been the spokesperson for the City's Buy the Way program, said that the increase should be credited to an increase in local shopping.
“Recent tax cuts, reductions in regulations and an increase in local shopping are really paying off for our local economy,” Hays said. “We don’t expect shoppers to make 100% of their purchases locally, but even small incremental redirection of spending from online to local spending makes a huge difference. A six-month upward trend in sales tax collections is very exciting.”
Sales tax revenue accounts for about 32 percent of the City of Amarillo's total revenue and helps fund a variety of departments, according to the City.
For more information, please visit amarillo.gov.
