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<br />Municipal Sales Tax History <br /> <br />The City has adopted the Municipal Sales and Use Tax Act, VTCA, Tax Code, Chapter 32 1, which <br />grants the City the power to impose and Ie'll' a 1 % Local Sale$ and Use Tax within the City, the proceeds <br />are credited to the General Fund and are not pled¡;ed to the payment of the Bonds. Col1ections and <br />enforcements are effected through the offices of the Comptroller of Public Accounts, State of Texas, <br />who remits the proceeds of the tax, after deduction of a 2% ser'/ ice fee, to the Ci ty monthly. Re'/enue <br />from this source, for the years shown, has been: <br /> <br />Fiscal <br />Year <br />Ended <br />9-30 <br />1977 <br />1978 <br />1979 <br />1980 <br />1981 <br />1982 <br />1983 <br />1984 <br />1985 <br />1986 <br />1987 <br />1988* <br /> <br />Total <br />Col1ected <br />$ 474,481 <br />545,467 <br />633,594 <br />804,033 <br />878,369 <br />1,123,309 <br />1,305,517 <br />1,535,273 <br />1,759,830 <br />1,848,274 <br />1,629,912 <br />2,134,092 <br /> <br />* Based on 11 months of data only 8-31-88. <br /> <br />% of <br />Ad Valorem <br />Tax Levy <br />36.3 I % <br />39.90% <br />44.61% <br />54.46% <br />51.24% <br />56.54% <br />54.59% <br />57 .00% <br />50.88% <br />48.58% <br />42.60% <br />55.05% <br /> <br />Equivalent of <br />Ad Valoremer <br />Tax Rate <br />$0.472 <br />0.519 <br />0.580 <br />0.708 <br />0.728 <br />0.582 <br />0.355 <br />0.388 <br />0.386 <br />0.369 <br />0.209 <br />0.270 <br /> <br />A - 12 <br />