Increased sales tax revenue is a good thing for Taylor residents!
The majority of the revenue in the City's General Fund is made up of:
Ad valorem, or property tax that is charged to residents; and
Sales and Use tax that is charged to anyone who purchases goods and services in the City
When sales and use tax revenues are up, it can help lower the property tax rate.
Because sales and use tax is paid in part by business owners and visitors who do not reside in Taylor, the additional sales and use tax helps pay for overall city operations and services provided to Taylor residents.
An increased sales tax revenue allows the City to provide more services and improvements.
Between the increased construction use taxes from the Samsung Semiconductor construction project, and an influx of visitors and businesses in our City, we have seen an upward trend in sale and use tax numbers that we expect will continue in the coming years.
To help residents see how sales tax revenues are increasing, we will be posting our current Sales Tax Report on the third Tuesday of every month with cumulative and actual numbers from the last four months of the year, and compare them to the three prior years.