Most cities still ahead on sales tax income

Posted 11/16/23

With one more month to go in the year, Wood County cities, except Winnsboro, continue to have higher sales tax collections than for 2022.

Three of the six cities reported lower income for …

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Most cities still ahead on sales tax income

Posted

With one more month to go in the year, Wood County cities, except Winnsboro, continue to have higher sales tax collections than for 2022.

Three of the six cities reported lower income for November than a year ago, resulting in the combined sale tax revenue being lower than a year ago.

The six cities collected a combined $595,912 in November 2022, and it dropped to $579,401 this month.

The November sales report is primarily for taxes collected by retailers in September and reported to the state in October.

The state comptroller’s office collects all taxes and rebates shares to cities, counties and others on a monthly bases.

The state collects a 6.25% tax on retail sales while the six cities collect 1.5% and the county collects a half-percent. That makes the combined sales tax rate the maximum 8.25% inside cities and 6.75% outside city limits.

The county’s half-cent tax generated $252,348 in November, a drop of 5.5% from last year when $267,073 was received.

For the year (11 months), the seven entities have combined sales tax income of $8,760,863, which is up from $8,571,302 collected through November 2022.

Only Winnsboro has less income in 2023 than a year ago, at $1,377,412 compared to $1,478,363, a 6.8% decline. Its monthly rebate was off 2.85% to $139,649.

Quitman saw a slight increase for November from $80,545 to $82,873 to bring the yearly total to $904,920, which is up 1.5% or about $13,500 for the year.

Mineola’s November rebate dropped 3.8%, more than $10,000, to $271,193. Yearly revenue is still almost $100,000 ahead of last year at $2,817,560 for a 3.63% increase.

Alba’s November rebate experienced a slight decline from $32,623 to $32,447 but is still more than $34,000 ahead of 2022, when $304,139 was received compared to this year’s $338,302.

Hawkins had a drop of 14.26% for November, with revenue falling $6,500 to $39,103. The city is still ahead of 2022 by almost $60,000 at $468,058, up 14.6%.

Yantis is also well ahead of 2022 with income of $121,002, up more than 20%. The November rebate of $14,134 is a 23.46% increase over 2022.

The county’s income for 11 months of $2,733,606 is up 2.4% from last year’s $2,669,683.