The city of Royse City unwrapped a late Christmas present this month, which was also a gift for local businesses.
A report issued Feb. 12 by the Texas Comptroller’s Office indicated merchants had an impressive 2019 holiday season, based on a huge increase in sales tax rebate revenue.
The report also revealed how collections for the fiscal year 2020 to date are also well ahead of the totals from one year ago.
The city was to receive a sales tax rebate payment of $445,539.51 this month, representing an increase of 27.7 percent from the $348,885 received during February 2019.
The figures represent the city’s portion of sales taxes collected at Royse City businesses during December and that were reported to the comptroller’s office in January.
Sales taxes are one of the two main sources of revenue, along with property taxes, which feed the city’s general fund.
So far this fiscal year, the city has received $777,471.06 in sales tax rebate revenue, representing an increase of 21.81 percent from the $638,259.33 collected through February 2019.