Sales tax revenue increased 9.6 percent during the first six months of the year, and based on financial modeling, the city is expected to end the 201314 fiscal year with $20.3 million in total sales tax revenue, Georgetown Utilities Financial Analyst Paul Diaz said.
Retail sales, which account for about 47 percent of sales tax dollars in Georgetown, were up 4.86 percent year to date, Diaz said. The three main revenue subsectors include building materials, general merchandise and other retail.
Sales tax generated by food sales increased by 6.61 percent year to date, and Wolf Ranch Town Center, which makes up about 13.2 percent of all city sales tax revenue, increased 3.64 percent year to date.
Diaz said Wolf Ranch is a good indicator of Georgetowns overall sales tax intake.
The demographic of [Wolf Ranch] make up a good representation of the profile of the overall city, Diaz said.