Frisco sales tax collection slightly down in July
September 16, 2010
FRISCO – Though June sales tax numbers were looking up, Frisco’s collection was back down in July – though only slightly.
According to Frisco’s financial specialist Chad Most, July was down 2.76 percent, or $13,790.
“That still leaves us at less than 1 percent short of last year’s totals through July,” Most said.
Year-to-date, the Town of Frisco is down .83 percent, or $25,391.
“It’s not too bad,” he said. “After redoing projections, staff still does not recommend any alterations to the current budget.”
Top performing sectors in July included home improvement, restaurants, vacation rentals, and health and beauty.
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Home improvement was up 11.74 percent, restaurants were up .11 percent, vacation rentals were up .12 percent, and health and beauty was up 12.21 percent.
“The most significant growth was exhibited in the home improvement sector,” Most said. “It was the second month in a row it exhibited growth. It’s an important move in right direction.”
Town officials also hope to increase its 2010 sales tax acquisitions with revenues generated from the Frisco Peninsula Recreation Area redevelopment project – construction is underway and a new tubing hill should be open for Thanksgiving.
SDN reporter Caitlin Row can be reached at (970) 668-4633 or at firstname.lastname@example.org.