In the report, the city saw a 14.57% year-over-year increase in sales tax revenue, with about $3.02 million. In the previous months report, Georgetown saw a sales tax revenue increase of 13.11%, data shows.
The coronavirus pandemic first hit in Central Texas in March, which led city officials to fear a negative financial impact as stores closed in April. Sales tax revenue funds about 8.4% of the city of Georgetown’s budget. However, that proved not to be the case; in fact, Georgetown retail spending has exceeded expectations, with year-over-year increases each month in 2020 despite the coronavirus pandemic, data shows.
Here is a breakdown.