News

Print
Press Enter to show all options, press Tab go to next option

Buy Cedar Park

Post Date:12/10/2019 3:29 pm

City of Cedar Park celebrates 20th year of sales tax
directed to Economic and Community Development

Sales tax diversion has funded more than $123 million in projects since 1999

This year marks the 20th anniversary of the City’s Economic Development (Type 4A) Corporation and Community Development (Type 4B) Corporation receiving sales tax funding.  A year prior, in 1998, Cedar Park voters elected to create these corporations and redirect one cent of sales tax to fund them.  (In 2018 Cedar Park citizens elected to redirect 1/8 cent from Economic Development to fund stormwater drainage.  Economic Development now receives 3/8 cent.)  This is in addition to the one cent that goes to the City’s General Fund. 

In celebration of the 20-year milestone, and to encourage continued growth in sales tax revenue, the City of Cedar Park has launched its Buy Cedar Park: Snack. Sip. Shop. campaign.  Its presence on social media serves as a reminder that a total of two cents of every taxable dollar spent in Cedar Park comes right back to the community.  The campaign features actual Cedar Park residents shopping and dining in some of Cedar Park’s favorite establishments – ranging from boutiques, to big box retailers, to small-and-big name eateries.  The City has also launched a new Buy Cedar Park website, www.CedarParkShops.com.  

Since 1999, Cedar Park has seen nearly $50.2 million in economic incentives provide for close to 9,500 jobs and create an economic impact of more than $16.5 billion, as well as funding for major projects such as H-E-B Center at Cedar Park, James Avery Artisan Jewelry, Hyliion, and Firefly Aerospace.  Sales tax has also supported more than $73 million for major Community Development projects such as the Bell Boulevard Redevelopment, parks and trail improvements – including Lakeline Park Phase 1 – as well as transportation projects that improve roads, intersections and traffic flow. 

Sales tax plays a major role in keeping the City portion of every homeowner’s property tax bill low.  This year marks the seventh consecutive year City Council has lowered the property tax rate, making it the lowest it’s been in 22 years.  Sales tax essentially lessens City’s reliance on property taxes to support such projects and day-to-day operations for the services you depend upon.  This year alone, 30 percent of the City’s $58.1 million General Fund is supported by more than $17 million in sales tax funding.  Visit www.CedarParkShops.com to learn more about the value-added of snacking, sipping and shopping in Cedar Park.
Return to full list >>