Amaillo sales tax revenue drops by 6% versus last year

The City of Amarillo has seen a 6 percent drop in February’s sales tax allocations compared to this same time in 2018.

“At this point in time we have no reason to have a lot of concern about this decrease. We are really hopeful that this will be a one time decrease so we’re hoping we’re gonna see that upward trend start back again next month," City of Amarillo Finance Director Laura Storrs said.

Storrs noted that sales tax revenue is Amarillo’s number one revenue source for the city's general fund.

"That money goes straight towards helping efforts like fire and police, streets and some of those basic city functions that serve our community. As those tax dollars go up, we’re able to put additional money into a lot of our public safety initiatives, just to help further our community," Storrs said.

We will have more information later on this developing story.

No comments:

Powered by Blogger.