Austin sales tax revenues down nine percent
Friday, May 8, 2009 by Austin Monitor
The recession continues to drag down the city’s revenues. Austin collected $12.6 million dollars in March, which was 9.2 percent less then the $13.9 million raised in March ‘08. It was actually a slight improvement over the fiscal year average, which is 9.9 percent less than it was during the first six months of fiscal year 2008. But the city is still projecting that sales taxes will drop 10 percent overall by the end of the fiscal year on Sept. 30, according to a memo from Chief Financial Officer Leslie Browder.
Austin’s sales tax revenues have declined faster than other major Texas cities. Houston is the only city whose sales tax collections were actually up for March, with collections 1.2 percent above last year’s. Fort Worth’s sales tax revenues were down 2.4 percent, San Antonio’s revenues were down by 3.1 percent, and Dallas’ revenues were down 8.7 percent.
The entire Austin/San Marcos MSA was down 6.3 percent. San Marcos was down the most, 14.6 percent, since they rely more on retail sales. Round Rock was down by 4 percent, Bee Cave was down by 10.5 percent and Capital Metro was down by 10.3 percent.
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