Texas, Lubbock Sales Tax Revenue Increases for October
More than $580 million is going to local governments in monthly sales tax revenue for October.
State sales tax revenue was $1.87 billion, a 15.9 percent increase from October 2010, according to Texas Comptroller Susan Combs.
“Strong growth in business sectors such as the oil and natural gas industry boosted sales tax revenue for yet another month,” Combs said. “State sales tax revenue has now increased for 19 consecutive months.”
The manufacturing industry also increased their sales tax revenue, as did the restaurant and retail industries.
The City of Lubbock’s sales tax allocation for the month increased to $4,885,374, up 7.08 percent from the same period last year. Lubbock County’s total was up 6.75 percent, despite decreases in Idalou, which saw an 8.8 percent decrease, and Ransom Canyon with a 25.8 percent decrease. Wolfforth received $29,917, down 15 percent from last year.
Post’s sales tax revenue payment also saw an increase, receiving $108,875, a 7.89 percent jump. Tahoka’s payment increased to $14,718, a 12 percent rise, and Brownfield will receive $137,256, a 10.53 percent increase.