County sees large jump in sales taxes
Seven government entities in Wood County collected $918,008 in sales tax revenue for the month, according to the October report from the state comptroller’s office.
Mostly due to a large …
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County sees large jump in sales taxes
Seven government entities in Wood County collected $918,008 in sales tax revenue for the month, according to the October report from the state comptroller’s office.
Mostly due to a large gain in the collections for Wood County, that figure is up by more than $80,000 from October 2024, when $839,426 was collected.
The report includes primarily taxes collected by retail businesses in August and reported to the state in September. Six cities collect a 1.5% tax on retail sales, and the county collects a half-cent tax.
Combined with the state’s 6.25% tax, shoppers pay an 8.25% tax on taxable sales inside cities and 6.75% in outlying areas.
Alba and Winnsboro saw their monthly income decline from year ago, while only Winnsboro is behind for the first 10 months of the year.
Alba’s rebate for $30,342 in October is off almost 5% from a year ago when $31,915 was received. For the year the city has collected $337,762, a gain of 10.5%.
Hawkins saw a gain of more than 10%, reaching $46,674 for the month. That bought the yearly total to $456,216, up 9.17% from 2024 when $417,859 was recorded.
Mineola saw a slight gain over August 2024, with income of $258,301 compared to $257,213. For the year Mineola tax income is up 3.09% to $2,637,725.
Quitman had a gain of almost 29% for the month, with receipts totaling $99,146. For the year sales tax income for Quitman is $834,043, some 6.25% ahead of 2024 when $784,966 came in.
Winnsboro’s rebate took a drop from $162,755 a year ago to $119,590, down 26.5%. The yearly total of $1,212,502 is off by 1.71%.
Yantis received an October rebate of $10,275 for a 10% gain from 2024. The total for the year of $122,495 is up almost 3%.
Wood County income rose almost $100,000 for the month to $353,679, a gain of 36.5%. That makes the yearly total $2,711,377, up by almost 10%.
For the year, consumers have paid $8,312,123 in sales taxes in Wise County, up by $422,585 from 2024.