Sales tax trend remains upward as some cities level off

Posted 3/16/23

The upward trend of sales tax revenues across Wood County continued, according to the March report from the state comptroller’s office, though Mineola and Quitman saw their increases slow while …

This item is available in full to subscribers.

Please log in to continue

Log in

Sales tax trend remains upward as some cities level off

Posted

The upward trend of sales tax revenues across Wood County continued, according to the March report from the state comptroller’s office, though Mineola and Quitman saw their increases slow while Winnsboro remains slightly behind 2022.

Sales taxes contributed $471,567 to the six cities that levy a tax on retail sales, compared to $464,214 in March of last year.

Wood County earned $217,220 for March compared to $210,783 a year ago.

March taxes are primarily from sales made by retailers in January and reported to the state in February. Cities and counties are rebated their shares monthly.

The six cities in Wood County levy a 1.5% tax on top of the state’s 6.25%. Wood County collects an additional half-cent, making the total tax rate the maximum 8.25%.

Alba continues to gain tax revenues as $26,166 was returned in March compared to $22,985 a year ago, up 13.8%. For the year (three months) the city has received $88,293, almost 19% ahead of last year’s $74,293.

Hawkins shows a 15.7% gain over March 2022, with receipts of $36,641 compared to $31,663.

For the year the city has booked $124,259, rising 18% from last year’s $105,306.

Mineola’s March rebate of $212,830 barely surpassed March 2022 when $211,639 was reported. The city is still 9.2% ahead of last year at $785,096 compared to $718,924.

Quitman also eased past last year’s $68,948 in March with a rebate of $69,714 this year. That leaves the city with $238,700 for the year, a gain of 6.6% from last year’s $223,897.

Winnsboro’s March income fell 3.88% from a year ago at $117,545 for the month.

The yearly total is off by 5.13% at $368,379, or a loss of $20,000.

Yantis reported the largest percentage gain at almost 30%, with March income of $8,668 compared to $6,682. For the year the city is 31.6% ahead with revenues of $33,354 compared to $25,349 in 2022.

Wood County collected $217,200 for the month, for a three percent gain. For the year the county has banked $756,152, some seven percent better than last year’s $706,018.

March is typically one of the lowest months for sales tax revenue, coming on the heels of the February report which is generally the highest, reflecting December holiday sales.