On Wednesday, the head of the Tyler Chamber of Commerce told us sales tax revenue was down because of internet shopping, plus bad times in the oil field. Thursday, we met with the city of Tyler’s Financial Department to see how the dip is affecting them.
The city of Tyler is experiencing a 4.2% decrease in sales tax revenue over the last year. According to the U.S. Census Bureau, online shopping is one of the fastest growing industries. Within a click of a button, your purchase directly impacts the local economy.
“We’re down about $530,000, so it does have a great impact,” said Chief Financial Officer Keidric Trimble.
Trimble said more than 50% of the city’s sales tax revenue comes from the retail sector.