{"id":161983,"date":"2026-02-12T19:12:45","date_gmt":"2026-02-12T19:12:45","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-tx\/161983\/"},"modified":"2026-02-12T19:12:45","modified_gmt":"2026-02-12T19:12:45","slug":"plano-sees-7-2m-excess-sales-tax-revenue","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-tx\/161983\/","title":{"rendered":"Plano sees $7.2M excess sales tax revenue"},"content":{"rendered":"

\t\t\t\t\t\t\tPlano City Council will decide how to allocate nearly $7.2 million in excess sales tax revenue after tabling the discussion at their Feb. 9 meeting<\/a>.<\/p>\n

What you need to know <\/p>\n

Plano has operated under a sales tax cap policy since 2008. The policy uses a three-year average of actual collections, excluding audit adjustments, to forecast revenue for budget projections and protect the city from economic swings.<\/p>\n

City documents<\/a> state the policy helps shield Plano from volatility during economic downturns such as the 2009 recession and the COVID-19 pandemic.<\/p>\n

For the current fiscal year, the city budgeted $124.6 million in sales tax revenue but collected $131.8 million, creating a $7.2 million surplus, according to city documents.<\/p>\n

Budget Director Karen Rhodes-Whitley said the higher total was driven in part by two large one-time sales tax payments received in August and September.<\/p>\n

\"chart\u201cWhen we submitted the recommended budget, it looked like it was going to be the $124 million,\u201d Rhodes-Whitley said. \u201cWe had presentations in August and everything regarding our re-estimation. At the end of August and September, we received those one-time payments.\u201d<\/p>\n

Because the funds are considered one-time revenue, Rhodes-Whitley said they cannot be added to the ongoing operating budget<\/a>.<\/p>\n

Under the policy, city documents<\/a> state council members could allocate the excess to:<\/p>\n

One-time expendituresRainy-Day FundCapital Maintenance FundEconomic Development FundGeneral Fund balanceRhodes-Whitley noted that City Manager Mark Israelson had mentioned the money could be used for a \u201ccouple of land purchases\u201d the city was looking at, but no specifics were provided.<\/p>\n

What\u2019s next?<\/p>\n

With council member Steve Lavine absent at the Feb. 9 meeting, Israelson recommended postponing the discussion until all members are present.<\/p>\n

Council will discuss the allocation at its Feb. 23 meeting.\n\t\t\t\t\t\t\t<\/p>\n","protected":false},"excerpt":{"rendered":"Plano City Council will decide how to allocate nearly $7.2 million in excess sales tax revenue after tabling…\n","protected":false},"author":2,"featured_media":161984,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[160,718,21535,18650,21534,21531,21527,21524,162,21526,161,21525,21536,66304,66305,21532,21533,21529,21530,21528],"class_list":["post-161983","post","type-post","status-publish","format-standard","has-post-thumbnail","category-plano","tag-plano","tag-plano-budget","tag-plano-budget-sept-8-vote","tag-plano-city-council","tag-plano-city-services-funding","tag-plano-cost-of-living","tag-plano-erosion-control-funding","tag-plano-fy-2025-26-budget","tag-plano-headlines","tag-plano-homeowner-taxes","tag-plano-news","tag-plano-property-tax-increase","tag-plano-property-tax-legislation","tag-plano-property-tax-rate","tag-plano-sales-tax","tag-plano-tax-ceiling-0-4406","tag-plano-tax-rate-comparison","tag-senate-bill-10-property-tax","tag-texas-house-property-tax-amendments","tag-texas-property-tax-cap"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/161983","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=161983"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/161983\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/161984"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=161983"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=161983"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=161983"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}