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Sales tax revenue up in G’town

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The most recent sales tax report for Germantown shows growth over last year with revenues up 9 percent over the same time period in fiscal year 2015.
Reports received from the state show sales tax revenues that began exceeding year-to-date budget in October.
The December report, which includes revenues through October, shows year-to-date collections at 105 percent of budget, totaling over $4.2 million. A copy of the report is available here.
“The continued growth of Germantown’s local economy is of extreme importance to the long-term sustainability of the City. Shopping local keeps those important sales tax dollars right here in Germantown,” said City Administrator Patrick Lawton.
This sales tax report comes on the heels of an announcement from Saddle Creek about exciting new tenants opening in the coming months.
These include Stoney River Steakhouse, slated to open in January, and Grimaldi’s Pizzeria, Lily Rain, Sleep Number, Vom Fass and Paper Source.
“The continued growth of Germantown’s local economy is of extreme importance to the long-term sustainability of the City. Shopping local keeps those important sales tax dollars right here in Germantown,” commented City Administrator Patrick Lawton.
Sales tax revenues make up 21 percent of total general fund revenue. These dollars are used to provide city services, including police and fire protection, and cover the city’s required contribution to Germantown Municipal School District.