Texas Sales Tax Revenue Up for 48th Consecutive Month, Lubbock Increases Slightly
Texas Comptroller Susan Combs’ office has distributed $555 million in monthly sales tax revenues for the March sales tax payment.
Sales tax revenue for Texas in March 2014 was $2.09 billion, up 5.6 percent compared to March 2013.
Combs said that the growth in sales tax revenues was led by business spending in oil and natural gas mining industries, wholesale trade, and construction sectors.
“Collections from restaurants were also strong,” said Combs. “This marks 48 consecutive months of growth in state sales tax collections.”
Local sales tax allocations totaling $554.5 million dollars will be sent to cities, counties, transit systems, and special purpose taxing districts, which is up 6.2 percent when compared with the same period one year ago.
The City of Lubbock saw minor growth in their sales tax payment, receiving $4.46 million, up two percent from the previous year.
Abernathy saw an extreme dip in sales tax revenue, only receiving $12,864, a decrease of more than 48 percent.
Plainview’s sales tax payment from the state continues to dip, receiving $268,544, down 4.26 percent from the same period last year.
Amarillo’s payment from the state saw a hefty increase, with the City receiving a payment of $5.24 million, up 10.26 percent.
Midland received a payment of $4.68 million, up 8.9 percent from April of 2013, and Odessa received $3.28 million, up 10.86 percent.
Not all smaller cities saw a hefty decrease. The City of Gruver received a payment of $37,671, a 244 percent increase from April of 2013.
For a complete list of sales tax allocations, visit the Texas Comptroller’s site here.