Monthly sales tax revenue distributed

December 21, 2013

Texas Comptroller Susan Combs is reporting $2.41 billion in state sales tax revenue for the month of November. That’s up 2.8 percent compared to November 2012.

So far this year, Hood County is running about 16 percent behind last year.

For the year, Granbury is about 2 percent ahead of last year. For the month, however, Granbury is down about 2 percent from last year.

The 122 percent increase for the month in Cresson is possibly skewed by late payments.For the year, Cresson is up 2 percent.

Lipan had a jump for the month too,and likewise could be from late payments. The city is up 6 percent from the year.

Sales tax revenue was up 10 percent for the month in Tolar. For the year, Tolar is up about 2 percent.

The sales tax rate for Hood County is 1/2 cent. Lipan has a 1 cent sales tax. The rate is 1.25 cents in Cresson. Granbury and Tolar both have a sales tax rate of 1.5 cents.

The sales tax figures represent October sales, reported to the state in November, and paid to the taxing entities in December.

“State sales tax revenue continues to grow at a moderate pace as expected,” Combs said. “Sales tax collections have increased for 44 consecutive months. Revenue from sectors such as wholesale trade, services industries and restaurants contributed to the most recent increase.”

For details of December sales tax allocations, locate the Monthly Sales Tax Allocation Comparison Summary Reports on the Comptroller’s Web site at www.window.state.tx.us/taxinfo/allocsum/compsum.html.

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Category: Business News Archived