The merchants in Royse City are still seeing lots of business, as the city received another significant rise in sales tax rebate revenue this month.
The city also reported a sizable gain in the amount of revenue it collects for the year so far, according to a report issued by Texas State Comptroller Glenn Hegar.
The July sales tax rebate payment represents the city’s portion of sales taxes collected at local businesses in May and reported to the Comptroller’s office in June.
Royse City reported receiving $467,539.04 in sales tax rebate revenue this month, representing an increase of 7.34% from the $435,553.08 received in Juky 2020, and far above the $298,815.79 collected in July 2019.
For the year to date, the city has taken in $3.24 million, a 24.58% increase from the $2.6 million received through the same point in 2020 and also the just under $2.1 million collected through July 2019.
Sales taxes are one of the two main sources of revenue, along with property taxes, which feed the city’s general fund.