Sales Tax Revenue for Lubbock, State Up from February 2011
State sales tax revenue continues to climb.
Texas Comptroller Susan Combs Wednesday announced that sales tax revenue for the State of Texas in February was $2.01 billion, a 14.8 percent increase compared to February 2011.
The sales tax revenue to be returned to the City of Lubbock is up as well, with Lubbock receiving more than $3,867,900, a 4.6 percent increase from February 2011.
Midland will receive more than $3,893,000, a 26.4 percent increase from the same time last year. Odessa has seen a sizable increase as well, receiving $2,438,600, a 21.1 percent increase from February 2011.
Levelland’s February sales tax payment has increased 9.5 percent, receiving $270,307. Tahoka will receive $11,819, a 10.5 percent increase, Big Spring will get a payment of more than $543,000, a 22.3 percent increase, and Abilene will receive more than $2,910,000, a 13.4 percent increase from February 2011.
“Sales tax revenue in all major industries was up, indicating growth in both business and consumer spending,” Combs said. “Rapid growth in tax collections continued from oil and natural gas sectors, while revenue from retail trade, restaurants, and telecommunications was also up significantly.”
Combs will send $473.6 million to cities, counties, transit systems, and special purpose taxing districts across the state, a 9.3 percent increase from the same period last year.
For a complete list of sales tax allocation reports for February 2012, click here.