The Samsung Austin Semiconductor effect is starting to show up big time in Taylor.
The city reports that the sales and use-tax revenue in January 2023 was $1,660,588, an increase of $1,238,825 compared to last year.
The cumulative sales and use tax revenue for October 2022 through January 2023 is $5,669,708, an increase of $3,721,480 over the same period in 2021.
In November 2022, the city began releasing a report on the third Tuesday of every month, detailing the cumulative and actual numbers from the last four months of the year and comparing them to the three prior years.
According to city officials, increased sales tax revenue is positive for Taylor residents because it can help lower the property tax rate.
Between the increased construction use taxes from Samsung, as well as an influx of visitors and businesses in Taylor, the city has seen an upward trend in sales and use tax numbers that they expect will continue in the coming years.
The next report will be released on Tuesday, February 21. For more information and to view the report, visit the finance section of the city’s website at www. taylortx.gov.
