DATA: McKinney’s sales tax revenue climbs 18% in spite of pandemic

The latest data shows McKinney’s sales tax revenue was up in May as more businesses began to reopen their doors during the coronavirus pandemic.

McKinney’s sales tax payments for July, which reflect sales from May, totaled $5.05 million, up about 18% from what the city collected in July 2019, according to data from the state.

McKinney fared better than neighboring cities. Plano had a 17% decrease in May, and Frisco and Allen were down by about 7%.

This marks the second month in a row where the city has reported a year-over-year increase in sales tax revenue. McKinney’s sales tax payments for June were up by about 12%.

McKinney Chief Financial Officer Mark Holloway said at the time that the long-term impact of the coronavirus could still impact the city’s budget.

“We're cautiously optimistic about our numbers for the rest of the year,” Holloway said in a June interview. “But sales tax during these times can be volatile, so we’re going to remain very conservative with our projections.”