By Barry Harrell

AMERICAN-STATESMAN STAFF

Texas saw sales tax collections rise in June, with revenue of $1.98 billion, a  15.2 percent increase over the same month last year, the state comptroller’s  office said Wednesday. It was the 27th consecutive month in which sales tax  revenue has increased, the comptroller’s office said.

Sales tax is an important source of revenue for the state, paying for a number  of services, from schools to prisons.

The collection numbers reported Wednesday reflect sales made in May.

“Strong business spending in industries such as manufacturing and oil and  natural gas boosted the latest sales tax collections,” Texas  Comptroller Susan Combs said in a news release. “Revenue from consumer  spending in the retail trade and restaurant sectors also did well.”

The comptroller’s office said it will distribute $535 million in local sales  tax allocations to cities, counties, transit systems and other taxing  entities, a 12.7 percent increase over July 2011.

Most Central Texas cities saw their sales tax allocations for July increase  over the same month last year, according to data from the comptroller’s  office.

Austin’s allocation rose to $12.5 million, a 10.7 percent increase over July  2011’s $11.4 million.

Among other Central Texas cities, Dripping Springs (25.6 percent), New  Braunfels (20.6 percent), Bastrop (18.9 percent) and Kyle (18.4 percent) saw  the biggest percentage increases in sales tax allocations. Cities seeing  declines from last year were Buda (-7.5 percent), Round Rock (-4.7 percent)  and Sunset Valley (-3.9 percent), according to data from the comptroller’s  office.

Contact Barry Harrell at 
912-2960

Original Article Link

Advertisements