Local news- Press Release
City of Germantown Tennessee - Marketplace Minute Sales Tax Continues to Exceed Projections 10 June 2022 ( news )
City of Germantown , state Tennessee ( By Press Release office)
Jun 10,2022
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The City of Germantown received $1 , 253 , 786 in local option sales tax revenues from the state in May , which is 12% over budget expectations . Sales tax reports from the state are delayed by two months , the growth reflects increased local spending during the month of March .
Germantown’s year to date local option sales tax revenues continue to trend in a positive direction with year to date revenues ahead of last year by $2 , 496 , 677 . Sales tax revenues are an important part of the City’s revenue stream . Making up an estimated 24% of budgeted City revenues , sales tax helps fund Germantown Police and Fire departments . Sales tax revenue also helps fund maintenance of parks and greenways , special events and many of the other things that help make the community a great place to live .
Residents can do their part to boost sales tax revenues by shopping and dining locally first . The City of Germantown receives a higher percentage of tax revenue from purchases made within the City .
View
the latest FY22 sales tax report .
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