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Germantown enjoys increase in local sales tax revenue

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The City of Germantown continues to see increases in local option sales tax revenues, with collections reaching $1,287,463 in December 2022. This marks an increase of $474,484 or 7% compared to the same period last year, reflecting the growth in local spending during October 2022.

As an important source of revenue, sales tax makes up an estimated 26% of budgeted City revenues and plays a crucial role in funding various community services and initiatives. These include the Germantown Police and Fire departments, parks and greenways maintenance, special events, and other essential community programs.

The City of Germantown receives a higher percentage of tax revenue from purchases made within the city limits, and residents are encouraged to shop and dine locally first to contribute to the City’s revenue growth. This not only helps support the local economy but also ensures that essential community services continue to receive adequate funding.

The sales tax collected in October 2022 was $1,196,317, while November 2022 saw sales tax collections of $1,286,239. This marks a significant increase in sales tax collections compared to previous fiscal years, with FY18 collecting $10,313,345, FY19 collecting $11,262,818, FY20 collecting $11,717,009, FY21 collecting $12,522,328, and FY22 collecting $15,158,778.

This growth in local sales tax revenues is a clear indication of the strong local economy and the willingness of residents to support their community by shopping and dining locally. The City of Germantown is committed to using these funds wisely to provide essential services, improve the community, and enhance the quality of life for its residents.

It’s important to note that the state reports sales tax revenues with a two-month delay. Despite this delay, the City of Germantown is pleased to announce the continued growth in local sales tax revenues and remains committed to using these funds to make Germantown a better place to live, work, and visit.

The City of Germantown is home to a vibrant and diverse community that values its unique heritage, natural beauty, and quality of life. The City is proud of its commitment to preserving this quality of life while providing essential services, including public safety, parks and recreation, and community events.

The Germantown Police Department provides excellent public safety services to the community and works hard to ensure that residents feel safe and secure. The department has a long history of professionalism and excellence, and it continues to maintain its high standards through training, technology, and community engagement.

The Germantown Fire Department is a full-service fire department that provides fire suppression, rescue services, and fire prevention education to the community. The department is staffed by highly trained and dedicated professionals who are committed to providing the highest level of service to the community.

The City’s parks and greenways system provides residents with a beautiful and peaceful environment to relax, exercise, and enjoy nature. The City’s commitment to preserving and maintaining its parks and greenways has made them a vital part of the community and a source of pride for residents.

In conclusion, the City of Germantown is proud of its continued growth and success, and it remains committed to using its resources wisely to improve the community and enhance the quality of life for its residents. The recent increase in local sales tax revenues is a clear indication of the strong local economy and the willingness of residents to support their community. The City of Germantown looks forward to continuing its efforts to make Germantown a better place to live, work, and visit.

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