According to a recent announcement from the Texas Comptroller Glenn Hegar, Hays County and the local municipal governments will receive $7,943,390.64 for the month of May.
Hegar also announced that he will send Texas cities, counties, transit systems and special purpose taxing districts $824.1 million in local sales tax allocations for May, 5 percent less than in May 2019.
These allocations are based on sales made in March by businesses that report tax monthly, and sales made in January, February, and March by quarterly filers.
Widespread social distancing requirements were not in place across much of the state until late March, meaning the impact of those measures affected only a portion of allocations for this month. The agency expects next month’s allocations, based on April sales, will show steeper declines compared to a year ago.
Sales tax revenue supports a city or county’s programs and services. A small portion of sales tax dollars is generated by non-residents and tourists. Therefore, that portion collected represents 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 large complex budgets.
In the City of San Marcos, sales tax revenues represent 44.4% of the general fund budget and are currently the largest single revenue source supporting general government services and this is the same for nearly all cities across the state.
You can review more on the San Marcos budget, spending and where your tax money goes below.
• Local & County 2020 Monthly & Year To Date Totals •
MAY 2020 Sales Tax Revenue
Local Central Texas Cities: $5,677,266.79
Hays County: $2,266,123.85
Combined Total: $7,943,390.64
*These allocations are based on sales made in March by businesses that report tax
monthly, and sales made in January, February, and March by quarterly filers.
APRIL 2020 Sales Tax Revenue
Local Central Texas Cities: $4,150,524.56
Hays County: $1,735,688.73
Combined Total: $5,886,213.29
*These allocations are based on sales made in February by businesses that report tax monthly.
Hays County & Central Texas Municipalities
Year To Date Sales Tax Revenue Totals
Local Central Texas Cities: $28,668,634.30
Hays County: $11,419,170.92
Countywide Combined Total: $40,087,805.22
*Year To Date: January-December calendar year
• Monthly Breakdown •
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|CITY||RATE||NET PAYMENT THIS PERIOD||COMPARABLE PAYMENT PRIOR YEAR||PERCENTAGE
|PAYMENT YTD||PRIOR YEAR PAYMENT YTD||PERCENTAGE
The 10-Year Annual Sales Tax Collection
For COSM Is Up By Over 100%
NOTE: The amounts and percentages below come directly from the City of San Marcos Finance Department and are the exact same amounts the city reported for last year’s 2019 budget.
Sales taxes represent 44.4% of the total General Fund revenues, they represent the greatest single source of revenue for the General Fund.
Any excess collection above the fiscal year 2020 estimate will go directly into General Fund balance or the budget can be amended to allocate these amounts.
The City of San Marcos 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 $11,906,000 in the next fiscal year, a sum that is equivalent to 23.52 cents on the property tax rate.
According to the city, without the half-cent sales tax dedicated to property tax reduction, the city’s ad valorem tax rate would have to be 23.52 cents more, or 84.91 cents per $100 of assessed value, to support the programs and services provided to San Marcos residents.
Sales taxes represent 44.4% of total General Fund revenue projected for the fiscal year 2020.
Sales tax receipts are the largest single revenue source supporting general governmental services in San Marcos. Consistent retail sales have kept this revenue stream steady for the past several years.
When comparing historical sales tax collections by segment, the percentage represented by retail collections has decreased while other segments have increased, indicating a small diversification in the sales taxes produced in the City.
It is important to note that sales tax revenues are a volatile funding source and are subject to shifts in local, state and national economies.
10-Year Appraisal Roll History For San Marcos Is Up Over 100%
(Per Property & Per Tax Year)
The FY 2020 budget will raise more total property taxes than last year’s budget by $3,609,774 OR 11.7 percent and of that amount $815,568 is tax revenue to be raised from new property added to the roll this year.
|RECIPIENT||MAY 2020 ALLOCATIONS||CHANGE FROM MAY 2019||YEAR TO DATE CHANGE|
|SPECIAL PURPOSE TAXING DISTRICTS||$65.7M||3.1%||9.3%|
• Review Sales Tax Reimbursement Reports – Last 12 Months •
- APRIL 2020: Hays County, Local Cities Will Receive Over $5.8 Million In Sales Tax Revenue For April
- MARCH 2020: March Sales Tax Revenue Breakdown For Hays County, Surrounding Central Texas Cities
- FEBRUARY 2020: February’s Sales Tax Revenue Breakdown For Hays County, Surrounding Central Texas Cities
- JANUARY 2020: January Sales Tax Revenue Breakdown For Hays County, Surrounding Central Texas Cities
- DECEMBER 2019: December, Year To Date Sales Tax Revenue Breakdown For Hays County, Surrounding Central Texas Cities
- NOVEMBER 2019: Hays County, Local Cities Will Receive Over $7.1 Million Sales Tax Revenue In November
- OCTOBER 2019: October’s Sales Tax Revenue Breakdown For Hays County, Surrounding Central Texas Cities
- SEPTEMBER 2019: Hays County, Local Municipalities Receive Nearly $80 Million In Sales Tax Revenue For Their FY19
- AUGUST 2019: Distributes $773 Million in Monthly Sales Tax Revenue to Local Governments Over $7.1 Million In Sales Tax Revenue For August
- JULY 2019: Hays County, Local Cities Will Receive Over $6.3 Million In Sales Tax Revenue In July
- JUNE 2019: Hays County, Local Governments Receive Over $6.4 Million In Monthly Sales Tax Revenue
- MAY 2019: May’s Sales Tax Revenue Breakdown For Hays County, Surrounding Central Texas Cities
• 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.
Sources: State of Texas Comptroller and City of San Marcos FY 19 & 20 Budget