Page 68 - Saginaw FY22 Adopted Annual Budget

CITY OF SAGINAW
GENERAL FUND SALES TAX REVENUE

2021-2022

The Texas Comptroller of Public Accounts is responsible for collecting sales tax revenues and
disbursing sales tax revenues to the various taxing jurisdictions. The Texas state sales and use tax
rate is 6.25%, but local taxing jurisdictions (cities, counties, special purpose districts, and transit
authorities) may also impose sales and use tax up to 2% for a total maximum combined rate of
8.25%. The City of Saginaw imposes the maximum rate of two percent (2%). One and one-half
percent goes into the General Fund. One third of that is used to offset the property tax rate and
reduce property taxes.

GENERAL FUND SALES TAX REVENUE

$7,000

$6,000

$5,000

In Thousands $4,000 .5%

1%
$3,000

$2,000

$1,000

$-
12-13 13-14 14-15 15-16 16-17 17-18 18-19 19-20 20-21 21-22

The increase in FY20-21 reflects a one-time payment due to the state comptroller's audit adjustment.

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