The City of Germantown received $1,185,767 in local option sales tax revenues from the state in May, which is 62% over budget expectations. Sales tax reports from the state are delayed by two months, the growth reflects increased local spending during the month of March.
Germantown’s year to date local option sales tax revenues continue to trend in a positive direction with year to date revenues ahead of last year by $316,094. Sales tax revenues are an important part of the City’s revenue stream. Making up an estimated 23 percent of budgeted City revenues, sales tax helps fund Germantown Police and Fire departments.
Sales tax revenue also helps fund maintenance of parks and greenways, special events and many of the other things that help make the community a great place to live.
Residents can do their part to boost sales tax revenues by shopping and dining locally first. The City of Germantown receives a higher percentage of tax revenue from purchases made within the City.