The city of Royse City ended the year by reporting a significant gain in sales tax rebate revenue, compared to the previous year.
The early Christmas present was included in a report released by the Texas Comptroller’s office.
The office released the December monthly sales and use tax report Dec. 11, which represents each city's portion of sales taxes collected at local businesses in October and which were reported to the Comptroller's office in November. The report was the last to be issued for the 2018/2019 fiscal year.
The Comptroller’s office tracks 12-month sales totals between Nov. 1 and Oct. 31 annually, while cities track the sales between Oct. 1 and Sept. 30.
Royse City received $350,081.13 in sales tax rebate revenue this month, representing an increase of 20.58 percent from the $290,327.27 in sales tax rebate revenue collected in December of last year. During the fiscal year, Royse City had received $3.81 million, which is 16.08 percent above the $3.28 million the city had accumulated through December, 2018.
Royse City saw several major businesses open their doors during the year, including Bucc-ee’s, which opened in June at 5005 E. Interstate 30 and which is expected to be an “anchor” store, operating on 18 acres of the property, with an additional 25 acres developed and available for additional businesses.
According to the Comptroller’s report, most cities in Rockwall County reported big increases in sales tax revenue during the year.
Sales taxes are one of the two main sources of revenue, along with property taxes, which feed each city's general fund.