Overall sales tax receipts in Wood County decline

Posted 8/17/23

Sales tax receipts in Wood County took a dip in the August report from the state comptroller’s office.

The report includes primarily sales made in June and reported to the state in July.

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Overall sales tax receipts in Wood County decline

Posted

Sales tax receipts in Wood County took a dip in the August report from the state comptroller’s office.

The report includes primarily sales made in June and reported to the state in July.

Cities and counties are rebated their shares monthly.

Six cities in Wood County collect a 1.5% tax on retail sales while Wood County collects a half-percent.

That makes a combined tax rate of 8.25% inside cities, when added to the states 6.25% tax.

The July report showed a drop of $58,000 in collections from last August.

The six cities collected $659,556 in August 2022 and $601,532 in 2023.

Three cities maintained higher collections, Hawkins, Mineola and Yantis, while Alba, Quitman and Winnsboro saw their revenues decline for the month.

All the cities but Winnsboro are still ahead of the last year’s revenues for the year, with four months to go.

The cities have earned $4,351,765 so far this year, up from $4,291,648 at this time last year.

Wood County collected $268,450 in August, down by $20,000 from a year ago when $288,273 was generated.

For the year sales taxes have added $1,995,919 to county coffers compared to $1,930,409 a year ago.

Alba’s monthly rebate dipped to $33,215 compared to $40,847 a year ago. For the first eight months of the year the city has earned $241,716, a 13% increase over last year’s $213,683.

An earlier downward trend in Hawkins has been reversed, with income in August of $50,223, a gain of 13% from August 2022. For the year the city has earned $340,403 which is up almost 18% from last year’s $289,033.

Mineola received a 2.3% gain in its monthly check to reach $278,728. For the year the city’s tax revenue is up by 5.1% to $2,063,906.

Quitman saw a drop in its monthly check of 21.6%, with receipts totaling $102,559. That left the city just slightly ahead for the year at $664,198 compared to $662,369 in 2022.

Winnsboro continued to see lower sales tax income with $123,266 received in August, a 23% decline. That brought the yearly total to $953,732, off by almost 13% from last year when $1,091,528 was received in the first eight months of the year.

Yantis saw its sales tax rebate rise by almost 26% to reach $13,538 for the month. For the year the city has received $87,808 for a 23% gain.

The six cities combined with the county received $869,947 in August compared to $947,929 a year ago.

For the first eight months of 2023, sales tax income totals $6,347,685 for all seven entities, which is a 2% gain from the first eight months of 2022 when $6,222,058 was received.