Colleyville Sales Tax up for fourth straight month
The City of Colleyville is excited to report that sales tax has been on an uptrend for the fourth month in a row.
With the construction on the SH26 corridor, the City had budgeted a slight 1% growth. When the latest sales tax figures were released in July for purchases made in May, the City was delighted to see sales tax up 5.7% compared to the same period a year ago. This year, sales tax collection has seen a 3.8% increase over 2017 year-to-date.
Colleyville realizes construction on SH26 has been a challenge for some of the area businesses. The City has utilized creative measures to promote businesses during the construction project and encourage Colleyville residents to shop, eat, and spend in their community. Some of this year’s efforts include Colleyville’s Quarterly Promotion Programs.
The Q1P grant program provided qualifying businesses along the SH26 corridor with up to $1,000 to spend on advertising. During the second quarter, the City partnered with Grapevine-Colleyville Independent School District to encourage each school’s Parent Teacher Association to collect receipts from Colleyville businesses. The top three schools turning in the most receipts received cash prizes by simply shopping in Colleyville. Over 21,000 receipts were collected, worth an estimated $2 million spent in local business. As a part of the most recent program, the Q3P, every Colleyville household was mailed a $10 gift card good at any business. To use, shoppers provide the gift card to the business at the time of purchase (minimum $20 purchase) and the business provides the discount. If a business is not able to provide the upfront discount, residents can bring the gift card and receipt to finance staff on the first floor of City Hall, and we will reimburse you directly. Assistant City Manager Mark Wood hopes businesses know the City is doing what it can to lend a hand, “We want to show our businesses we support them and want to see them succeed. We also want to encourage our residents to shop local.”
The City’s efforts to support its businesses will continue throughout the year. Keep your eyes open for Colleyville’s Q4P program!