November 2013 Sales Tax receipts (reported this week) show considerable variation locally. Bee Cave sales tax actually dropped by a little under 1% on a year-on-year basis from $555,000 to $550,000 whereas Lakeway went up by almost 10% from $172,000 to $189,000. October 2012 Sales Tax receipts showed Bee Cave up year-on-year 27% at $620,000 and Lakeway up 16% at $195,000 for the month. The November trend for Bee Cave is worrisome considering the general upwards trend this year and the significant success is generating new tenants at the Galleria and the Shops.
City Manager Frank Salvato explained: "If you look at the information on the State Comptroller’s website, you will see that the 2011 sales tax payment included future and prior payments totaling $24,483.74, while this year’s sales tax payment only included $3,217.22 in future and prior paid collections. I always looks at the “current paid” which shows we are up 2.5%." The data can be accesed by searching Bee Cave HERE.