Page 18 - 2019 Budget Detail.xlsx

Sales Tax

$3,500,000.00

$3,000,000.00

$2,500,000.00

$2,000,000.00

$1,500,000.00

$1,000,000.00

$500,000.00

$0.00
Sep‐12 Dec‐12 Mar‐13 Jun‐13 Sep‐13 Dec‐13 Mar‐14 Jun‐14 Sep‐14 Dec‐14 Mar‐15 Jun‐15 Sep‐15 Dec‐15 Mar‐16 Jun‐16 Sep‐16 Dec‐16 Mar‐17 Jun‐17 Sep‐17 Dec‐17 Mar‐18

Revenue Description: Sales Tax is generated from purchases made in Richland Hills.
Currently, when a purchase is made, there is a sales tax assessed of 8.25% of the total
taxable purchase. Of that amount, the state gets 6.25%. The other 2% is for the benefit
of the City. The amount shown in the chart above is only the 1% that goes toward the
General Fund. The other 1% is dedicated to specific purposes outside of the General
Fund.

Revenue Projection: Sales tax is our largest single source of revenue in the General
Fund. What you will see in looking at the chart above is that it has been solidly trending
upward for over three years. For several years we have seen significant and steady
increases in this line item, as you will see in the chart above. However, it does appear
to be leveling off, so we will watch that carefully. That said, we are still at all time highs,
and are projecting $3,150,000 in revenue this year, an increase of $50,000 over last
year.

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