Sales tax growing in Bryan, along with community

KYLE 28
Tuesday, September 10, 2013 - 5:01pm

Bryan, Texas, is bustling with growth and opportunity, and it does not look like things are slowing down.

Sales taxes collected throughout the City during the month of June 2013 equaled $1,500,561, representing $92,202 or 6.55% above the projected budget for the month. This is an actual increase of $148,487 or 10.98% compared to sales tax collections in June 2012. Actual sales tax collections city-wide for the period October 2012-June 2013 equal $11,733,157. Actual sales taxes collected October 2011-June 2012 equaled $10,989,038. This represents an increase of $744,119, or 6.77%, so far this fiscal year compared to the same time period in the previous fiscal year.

In addition to the overall sales tax increase, hotel occupancy tax is up 41 percent compared to the same period last year. Sales taxes collected in the downtown Bryan area have increased 40 percent from the first quarter of 2008 through the first quarter of 2013.

Bryan recently became home to Axis Pipe & Tube, one of the largest businesses to locate in Texas this year. The pipe and steel manufacturing plant represents a $120 million investment in the local community.

"The location of Axis Pipe & Tube in our area is further evidence of the wonderful things happening here in Bryan," said Mayor Pro Tem Ann Horton at the August 21 facility groundbreaking.

Outside business construction and city infrastructure projects, including drainage, streets and parks, have all contributed to the increasing interest to build, visit, live and work in Bryan.

"These are exciting times for the City," said Councilmember Paul Madison. "All of the construction and infrastructure repairs being done by the City are wonderful improvements and are paving the way for even greater development."

The City Council is proposing to lower the property tax rate by 0.5% for the next fiscal year. "Healthy sales tax revenues are a major contributing factor in allowing the Council to lower the property tax rate for the second year in a row, while still increasing public safety personnel and other city services," said Mayor Jason Bienski.
 

News

Comments News Comments

Post new Comment