Page 52 - Ord 866 Adopting a revised Fiscal Year 17-18 and new proposed Fiscal Year 18-19 budget

Section 1 Executive
Community Profile

SALES AND USE TAX RATE General Sales and Use Tax
shown in millions)
Many people don’ t know that most
5.600
of their sales and use tax is remitted
to the State of Texas; in fact, for 4.925 4.950
every dollar of taxable sales, the 4.726 $ 4.610 $ 4.651
state receives six and one quarter 4.375
cents ( or 6.25%)

In the State of Texas local
municipalities have the option to
adopt up to an additional two
cents ( or 2%) for local use for a total
maximum combined rate of 8.25%.

This local tax must be in
accordance with state law and be
utilized for specific purposes as
http://
identified by the state’ s local
http:// www.window.state 2013 2014 2015 2016 2017 2018 2019
government code.
www.window.stat
.tx.us/taxinfo/local/
e.tx.us/taxinfo/
local/
4B Economic Development Fund – This fund utilizes the revenues generated from a ½ cent sales tax to
fund qualified development projects. Currently, the 4B Fund is committed to the repayment of the
debt incurred for the construction of Westlake Academy.

General Fund Allocation – The Town levies 1½% in sales tax that is utilized to offset expenditures in the
General Fund ( 1%) and is used to reduce the property tax burden (½%) on residents and businesses
by providing Westlake with an additional unrestricted revenue source.

HOTEL OCCUPANCY TAX Hotel Occupancy Tax
shown in thousands)
In addition to sales and use tax
collections, the Town receives a 872 $ 854 $ 854
822
7% hotel occupancy tax from the 796
752
Marriott Solana and any future 710
hotels in Westlake.

This revenue is recognized in the
Visitors Association Fund and is
used to help fund a shuttle
program for hotel guests as well as
other marketing and promotional
activities.
2013 2014 2015 2016 2017 2018 2019

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