Sales Tax Revenue Up For Texas, Lubbock
Sales tax revenue is up for both the State of Texas and the Hub City.
Texas Comptroller Susan Combs distributed $553 million in sales tax allocations to cities, counties, transit systems, and special purpose taxing districts, which is a 4.1 percent increase compared to March 2013.
“Sales tax revenue continues its growth streak and has now increased for 47 consecutive months,” said Combs. “Growth in tax collections was seen across all major economic sectors including oil and gas, wholesale trade, and in the services sector.”
The sales tax figures represent January sales that are reported by monthly tax filers.
The City of Lubbock’s sales tax allocation from the state is at $4.39 million, up 2.89 percent from the same period in 2013.
Shallowater’s sales tax allocation payment has increased dramatically from March of 2013, posting a $14,385 payment for the month, up 82.97 percent from the same period last year.
Midland’s payment from the state is $5.13 million, up 12.6 percent from March of 2013, and Odessa’s allocation is $3.31 million, up 14.2 percent from March of 2013.
Amarillo’s sales tax allocation from the state has decreased slightly, dipping 1.3 percent from March 2013 to $5.06 million.
Abilene posted a more severe decrease, collecting $2.96 million for March of 2014, down 9.4 percent compared to March 2013.