Sales tax collections continue upward
Sales tax receipts for Wood County continue to rise, with double digit increases in November.
The most recent report from the state comptroller’s office shows six Wood County cities have collected $4,437,626 in sales tax revenue so far in 2019, which is more than 10 percent ahead of 2018 when $4,008,700 was collected in the first 11 months of the year.
The jump in November collections was almost 20 percent. The six cities earned $474,475 this year compared to $399,475 in November 2018.
The November collections are primarily from sales made by retail merchants in September and reported to the state in October.
Merchants send all sales taxes collected, including the 6.25 percent state sales tax, to the state comptroller on a monthly, quarterly or annual basis.
The comptroller rebates cities and counties their share monthly.
All Wood County cities collect a 1.5 percent tax, and the county also collects a half-cent tax for a total 8.25 percent.
The county collected $212,427 in November compared to $173,309 a year ago, and for the year sales taxes have generated $1,958,416, up almost 12 percent from a year ago when $1,752,591 was earned.
Combined with the cities, local governments have added $6,396,042 to their coffers this year from sales taxes.
Mineola had the second big jump in as many months, with sales tax receipts of $217,306 in November, up by almost 19 percent. That brings the total for the year to $2,032,895 for a seven percent gain over 2018.
Quitman booked $65,081 in November for a 13.4 percent gain over 2018. That brings 2019 receipts to $680,139, up by almost nine percent from $624,187 a year ago.
Winnsboro income is up 16.5 percent for the month to $132,788 and for the year the increase is 14.2 percent, totaling $1,137,817.
Hawkins reported a 22 percent increase in November with sales tax income of $29,496. The city has booked $350,696 for the year, up more than 30 percent.,
Alba received a rebate for $22,288 in November, a gain of more than 53 percent from a year ago when $14,544 was received. That puts the city slightly ahead for the year with sales tax income totaling $161,857 compared to $153,325 a year ago.
The monthly Yantis rebate for $7,513 is up 11 percent from November 2018. The city is 9.3 percent ahead of last year with total income of $74,220.