The Texas Comptroller just announced sales tax revenue for Texas in June was $2.4B. This is 10.3 percent more than in June 2016.
For Georgetown, the sales tax revenue for June is up 7.59% over June 2016.
Georgetown has budgeted $23.1M sales tax revenue, which is a 10% increase for FY2017 over the amount budgeted for FY2016.
However, the actual sales tax receipts for FY2016 came in above budget and the FY17 budget is just 4.1% above the actual receipts.
Bottom line is it appears the sales tax receipts are going to come in several hundred thousand dollars over budget, which is a good thing. The citizens just have to watch how our City Council spends that potential windfall.
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