Texas Comptroller Glenn Hegar announced yesterday he will send cities, counties, transit systems and special purpose taxing districts $735.9 million in local sales tax allocations for October, , 11.4 percent more than in October 2017.
These allocations are based on sales made in August 2018 by businesses that report tax monthly.
Sales tax revenue supports a city or county’s programs and services and a substantial portion of sales tax dollars are generated by nonresidnets and tourists. Therefore, it represents a significant savings to local property taxpayers.
Sales taxes are a primary source of funds for many vital services ranging from police and fire protection, to parks, recreation, library, environmental services, planning and more.
The reliance on sales tax revenue requires vigilant monitoring of revenue sources to assure they will keep pace with the demands and rising costs while operating a large complex budgets.
Sales tax revenues represent 44.8% of San Marcos’ general fund budget and are the largest single revenue source supporting general government services in San Marcos yearly budgets.
You can review more on the San Marcos budget, spending and where your money goes below.
• Local & County 2018 Monthly & Year To Date Totals •
October 2018 Sales Tax Revenue
Local Central Texas Cities: $4,550,813.42 Million
Hays County: $1,763,733.90 Million
Combined Total: $6,314,547.32 Million
*These allocations are based on sales made in August by businesses that report tax monthly.
September 2018 Sales Tax Revenue
Local Central Texas Cities: $4,438,524.59 Million
Hays County: $1,749,878.52 Million
Combined Total: $6,188,403.11 Million
*These allocations are based on sales made in July by businesses that report tax monthly.
Hays County & Central Texas Municipalities Year To Date Sales Tax Revenue Totals
Local Central Texas Cities: $45,032,989.15 Million
Hays County: $17,587,751.52 Million
Countywide Combined Total: $62,620,740.67 Million
• Monthly Breakdown •
|CITY||RATE||NET PAYMENT THIS PERIOD||COMPARABLE PAYMENT PRIOR YEAR||% CHANGE||PAYMENT YTD||PRIOR YEAR PAYMENT YTD||% CHANGE|
• Interesting Stats & Facts •
San Marcos Property Tax Rate
- The City of San Marcos’ total outstanding debt as of August 31, 2016: $389,029,050 Million (does not include September 1, 2016 – June 7, 2018. Read more HERE);
- City of San Marcos Property Tax Rate: Rate .6139 cents per $100 of property valuation (This was as of San Marcos’ Oct. 1 2018 budget. Read more HERE);
Where does your local sales tax dollars go in San Marcos?
According to the San Marcos’ 2018 Final/Approved budget, the city collects one and one-half cents on every dollar spent on taxable goods and services within the City limits.
The State of Texas allows home rule cities like San Marcos to adopt a one-cent sales tax to support general governmental services.
Local voters authorized another half-cent in 1987 dedicated solely to the reduction of property taxes. The one and one half cents collected by the City represents the maximum they may adopt.
The half-cent sales tax alone is expected to generate $10,667,350 in the next fiscal year, a sum that is equivalent to 23.62 cents on the property tax rate.
Without the half-cent sales tax dedicated to property tax reduction, the city’s ad valorem tax rate would have to be 23.30 cents more, or 84.69 cents per $100 of assessed value, to support the programs and services provided to San Marcos residents.
• San Marcos 10-Year Sales Tax Collection History •
|RECIPIENT||Oct. 2018 ALLOCATIONS||CHANGE FROM Oct. 2017||YEAR TO DATE CHANGE|
|SPECIAL PURPOSE TAXING DISTRICTS||$53.2M||+22.1%||+18.7%|
• Review Sales Tax Reimbursement Reports – Last 12 Months •
- SEPTEMBER 2018: Hays County & Central Texas Cities Receive $56.3M In Sales Tax Revenue In FY 18
- AUGUST 2018: Central Texas Cities, Hays County To Receive Over $6.3M In Monthly Sales Tax Revenue
- JULY 2018: Texas Distributes $5.7 Million In Monthly Sales Tax Revenue To Hays County, Local Governments
- JUNE 2018: June’s Sales Tax Revenue Breakdown For Hays County, Surrounding Central Texas Cities
- MAY 2018: May 2018 Sales Tax Revenue Breakdown For Hays County, Surrounding Central Texas Cities
- APRIL 2018: April’s Sales Tax Breakdown For Hays County, Surrounding Central Texas Cities
- MARCH 2018: Central Texas Cities, Hays County To Receive $5.1 M For March Sales Tax Revenue
- FEBRUARY 2018: February Sales Tax Allocations For Central Texas Cities, Hays County Better Than Last Month
- JANUARY 2018: January Sales Tax Revenue Surpasses Last Month For Hays County And Local Municipalities
- NOVEMBER 2017: Hays County And Local Government’s Monthly Sales Tax Revenue
- OCTOBER 2017: San Marcos Monthly Sales Tax Allocations Down First Month Of Fiscal Year 2018
• Definitions •
- Net Payment This Period— The actual payment amount sent to the entity.
- Comparable Payment Prior Year— The actual payment amount sent to the entity in the same month or quarter last year.
- Percentage Change— The percentage change in the actual payment amount sent this month compared with the payment amount sent in the same month last year.
- Payment YTD— The total amount of payments sent during the current calendar year to date.
- Prior Year Payments to Date— The total amount of payments sent during the same period for the previous calendar year to date.
- Prior-Year Payment YTD— The total amount of payments sent during the same period of the previous calendar year to date.
- Percentage Change — The percentage change in the total amount of payments sent during the current calendar year to date compared with the amount of payments sent during the same period for the previous calendar year to date.