State Sales Tax Revenue Increases for 21st Consecutive Month
Sales tax revenue in Texas is up for December.
State sales tax revenue in December 2011 was $1.98 billion, up 9.5 percent from December 2010.
$495 million will be sent to cities, counties, transit systems, and special purpose taxing districts, a 9.1 percent increase from the same period last year.
The City of Lubbock will receive $4,101,000, up 6.2 percent from one year ago. Others in Lubbock County have seen increases as well, including Buffalo Springs, who will receive $903.42, a 100.33 percent increase compared to last year.
Snyder’s sales tax allocation has increased 20.4 percent from last year. They will receive $243,476. Tahoka will receive $8,449, a 5.42 percent increase. O’Donnell saw a 43 percent decrease from last year, meaning they will receive $1,431.
Midland’s sales tax receipts are up, and they will receive more than $3,897,000, an 18.2 percent increase from the January 2011 allocations. Odessa will receive nearly $2,411,000, a 24.6 percent increase.
Abilene will also see a hefty 35.9 percent increase in their allocation payment, receiving over $3,745,000.
Texas Comptroller Susan Combs weighed in on the increases, saying “Sales taxes from retail trade and restaurant activity continue to improve, with tax revenue from the oil and natural gas sector also providing a lift to overall collections.
Overall state sales tax revenue has increased for 21 consecutive months.