AMARILLO, TX (KFDA) - The city of Amarillo is seeing an increase in sales tax revenue for this fiscal year.
So far, Amarillo has collected a little over $55 million in sales tax revenue. This is close to $500,000 more than last year.
With this increase, city officials say they expect to continue seeing an economic boost within Amarillo.
"We recognize that the economy is very strong right now and we certainly hope it continues growing," said Laura Storrs, City Finance Director. "However, we want to be conservative in our estimates going forward so, therefore, we just budget a one percent increase for next year."
This one percent will fund police and fire stations, street work and administrative services within Amarillo.
"It's pretty much right in line with what we have expected it," said, Storrs. "It came in very close to our budget projections for the year so, we were pleased with that. As always, we are hoping for to see increases in the future and hoping to get everyone out to shop locally. So, we can see more sales tax coming in."
In 2010, the Amarillo economy saw a slight dip in sales tax when the city received nearly $41 million but each year after has continued to see between an 8 to 1 percent increase.
September's sales tax collection has been released showing that Amarillo has received almost 5 million dollars in tax money this month. That is similar to last year but before the fiscal year ends on September 30th, there is an expectation to meet a one percent increase over the prior year.