Sales tax revenues continue to climb for county, cities
Wood County government entities that collect sales taxes have received an additional $200,000 so far this year.
The March report from the state comptroller’s office shows that six cities and the county combined have collected $1,849,052 as their share of the tax on retail sales for the first three months of the year.
By comparison the seven entities earned $1,644,978 in three months a year ago.
The March report is primarily for taxes collected by businesses in January and reported to the state in February.
The March report is up 13.56% from March 2019 while for the three months, collections rose by 21.26% for the six cities that collect a retail tax.
The total tax rate for cities is 8.25% which includes the 6.25% state sales tax, the 1.5% tax collected by cities and a half-cent sales tax collected by the county.
Outside incorporated cities, the tax rate is 6.75%. The combined state maximum rate by law is 8.25%.
The six cities that collect a 1.5% tax include Alba, Hawkins, Mineola, Quitman, Winnsboro and Yantis.
All six are reporting higher income than a year ago, and four of the six received a higher rebate in March than a year ago.
Mineola’s share in March was $173,151 compared to $160,254 a year ago, a gain of 8%. For the year the city has booked $610,436 compared to $537,479 last year, up 13.57%.
Quitman sales tax income of $65,379 for March is 7.11% ahead of last year’s March rebate for $61,035. For the year the city has received $203,489 in sales tax revenue, a gain of 12.04% from $181,614 a year ago.
Alba’s sales tax income is $58,333 so far this year, 63% ahead of last year when $35,767 was received for three months.
The March report shows Alba received $16,321, a 53% gain from $10,673.
Winnsboro booked $91,384 in March for a decline of 1.5% from $92,758. But for the year the city remains ahead of 2019 with $304,118 in income compared to $293,403 last year.
Yantis has received $21,737 as its share of sales taxes in 2020. Last year the total was $18,957, for a 14.66% gain. The monthly rebate of $6,829 is up 19% from $5,743.
Hawkins’ sales tax income is $24,039 for March, down 4% or $1,000. The yearly total of $83,121 is 20% ahead of 2019.
Wood County has collected $567,816 in sales taxes this year, a gain of 11.6%. The monthly rebate for $169,194 is up almost 7% from last year.
Combined, the six cities earned $377,104 in March, and added to the county’s share, sales taxes accounted for $546,298 in income for the month.