Sales tax revenue continues increase
April 17, 2012 at 10:20 a.m.
Sales tax rebates for all Wood County communities show robust gains compared to the same period last year, according to the March figures released from Texas Comptrollers Office. The latest rebates are for sales during the month of February as well as sales by business that file quarterly.
Chana Gail Willis, executive director of the Wood County Industrial Commissioner said all cities saw gains ranging from one to 30 percent growth. Year-to-date distributions are up at a good pace for roughly half the cities within the area, and Wood County as a whole, experienced a 9.54 percent growth rate compared to the same time last year, while counties within the state averaged a nice 15.5 percent growth rate.
Willis says sales tax allocations are a direct marker for economic health of retail sales that are taxable within a municipality's jurisdiction.
"These figures, coupled with other economic indicators, reflect that we are going into a spring season of good recovery, sales and potential business expansion," she noted.
Texas Comptroller Susan Combs said the latest sales tax revenue numbers mark a continuation of recent trends seen n sales tax receipts.
"Strong collections continued in oil and gas related sectors, while growth in revenue from the retail sector and restaurants also accelerated, she said."
Alba saw the highest increase in sales for the month as the city rose 30.05 percent over last year. The city received a rebate check totaling $9,058.32 as compared to last year's amount of $6,964.76. The city has received $38,156.80 for the year, a 15.02 percent increase over last year's total of $33,173.03.
The city of Mineola received the next largest rebate check this month totaling $129,541.34, a 29.35 percent increase over last year's amount of $100,146.89. The city has received $544,710.51 for the year so far, an increase of 17.13 percent over 2011's payments of $465,033.10 during the same period.
Quitman's sales for the month rose 11.70 percent over last year.
The city collected $35,850.17 as compared to last year's $32,092.98. Quitman has collected $142,250.57 for the year, down 1.11 percent over last year's total of $143,855.92.
Yantis also saw a rise in sales tax revenue.
The city collected $2,995.23 for the month, a 15.10 percent increase from $2,602.16 last year. Year-to-date the city has received $13,707.20, a 0.24 percent increase as compared to last year's collection of $13,673.91.
The city of Winnsboro also saw a jump in sales tax revenue.
The city collected $56,123.36 for the month, a 13.03 percent boost from $49,652.12 last year. Year-to-date, the city has received $234,776.50, a 0.58 percent increase over last year's collection of $233,407.62.
Sales tax revenue for the city of Hawkins was $17,767.12, a 1.55 percent increase over last year's total of $17,495.80.
For the year, the city has collected $92,238.52, climbing 8.88 percent compared to 2011's total of $84,714.60.
Wood County's payment this month was $110,027.77, up 3.10 percent over last's $106,721.55.
For the year, the county's sales tax rebates total $490,042.97, a 9.74 percent jump over 2011's payment of $446,537.72.