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FY2009- 2010_Budget Document
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FY2009- 2010_Budget Document
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La Porte TX
Document Type
Budget & Budget Documentation
Date
10/1/2009
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Sales Taxes are generated when goods are sold in the City. The State of Texas is the collecting agency for these <br />taxes and submits to the City the portion the City is due. The current sales tax rate in our jurisdiction is 8%, <br />which is comprised of 6.25% for the State, 1% for the City, ½% for the La Porte Development Corporation and <br />¼% for the Street Maintenance Sales Tax, which went into effect October 1, 2006. The City estimates the amount <br />it expects to receive from sales taxes based on historical trends. The City expects to collect $2.9 million for the <br />General Fund and $1.45 million for Section 4B Economic Development from this revenue source. It is estimated <br />that the Street Maintenance Sales Tax will generate approximately $723,245. This revenue source is projected to <br />fall below 2009 levels due to current economic conditions. <br />Sales Tax Trends <br />6,000,000 <br />5,000,000 <br />4,000,000 <br />3,000,000 <br />2,000,000 <br />1,000,000 <br />- <br />2001200220032004200520062007200820092010 <br />General FundSection 4BStreet Maintenance <br />The final major revenue source is the levying of Franchise Fees to Utilities operating in the City of La Porte. <br />State Law governs the amount of the levy. The City expects to receive $2.2 million from this revenue source in <br />fiscal year 2009-10. <br /> <br />
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