Sales taxes decline slightly

Posted 7/18/24

A slight downward trend in sales tax collections continued for Wood County cities in the July’s report from state comptroller.

The report includes primarily retail sales made by merchants …

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Sales taxes decline slightly

Posted

A slight downward trend in sales tax collections continued for Wood County cities in the July’s report from state comptroller.

The report includes primarily retail sales made by merchants in May and reported to the state in June.

Yantis continues to show hefty increases for the month as well as for the year.

Alba, which had also been showing positive gains, did see a drop in July income, though the city does remain slightly ahead for the year.

The other cities’ declines are less than 2.5% for the year.

Quitman, Hawkins and Winnsboro showed gains in July but not enough to overcome the losses for the year.

Alba received $30,104 in July, a drop of almost 20% from a year ago. But for the year (seven months), the city has received $211,652, a 1.5% gain from last year’s $208,500.

Hawkins saw a big jump in its July rebate of more than 32% to $39,074. It was almost enough to close the gap from last year, with collections in 2024 of $287,505 compared to $290,179 a year ago.

Mineola saw a 6.5% drop in July, with sales tax generating $243,269 compared to $260,391 in July 2023.

The yearly total of $1,752,892 is down 1.8%, or more than $32,000.

Quitman got a 10% boost in its July receipts for a total of $75,424. That brought the yearly income to $548,118, which is 2.4% behind 2023.

Winnsboro saw a slight rise in its July rebate to $105,608, up 1.54%.The yearly total sales tax income of $818,037 is still 1.5% behind last year.

Sales tax income for Yantis rose almost 26% for the month to $12,680. The gain for the year is 16.9% to $86,828.

The cities collect a 1.5% tax on top of the state’s 6.25% tax on retail sales.

Wood County collects an additional half-cent, making the total tax on retail sales in cities of 8.25%.

The county’s July rebate fell by 3.4% to $234,267 and brought the yearly total to $1,695,444 for a 1.85% drop.

In surrounding counties, sales tax income is down in all three Rains County cities, Emory, Point and East Tawakoni.

Only Grand Saline and Edom show yearly declines among the seven cities in Van Zandt County.

All three cities in Hopkins County are ahead for the year, as are all five cities in Upshur County.

In Smith County, Lindale is ahead slightly. Winona is up 6.6% and Tyler is down 3.2% to just under $35 million for the year.