Sales taxes climbing across county

Posted 11/24/22

With a month left in the calendar year, Wood County cities are again poised to set sales tax income records.

Alba, Mineola, Quitman and Winnsboro have already collected more sales taxes in 11 months than they did all of last year.

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Sales taxes climbing across county

Posted

With a month left in the calendar year, Wood County cities are again poised to set sales tax income records.

Alba, Mineola, Quitman and Winnsboro have already collected more sales taxes in 11 months than they did all of last year.

The November report from the state comptroller’s office shows tax collections were up 12% over last year.

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

Last November the six cities that assess a tax on retail sales earned $532,075 compared to $595,912 this year.

That brought the annual total through 11 months to $5,901,619, an increase of 10.6% over last year’s $5,336,490.

Alba, Hawkins, Mineola, Quitman, Winnsboro and Yantis each collect a 1.5% tax on retail sales on top of the state’s 6.25% tax.

Wood County collects an additional half-percent for a total combined rate of 8.25%, the maximum allowed by law.

The county earned $267,073 in November for a 17.1% gain over last year’s $228,027. For the year the county has booked $2,669,683 in sales tax revenue, up 13.37% over a year ago when $2,354,714 had come in.

Combined with the six cities, sales tax collections are $8,571,302 so far this year for the seven entities, which is almost $900,000 more than this time a year ago.

The monthly total of $862,985 is a gain of more than $100,000 from November 2021.

Alba has the largest percent increase for the year at 22.63%. Its collections were $247,998 a year ago and have risen to $304,139.

The monthly rebate from the state was $32,623, up 12.2% from last year’s $29,071.

After some slower months, Hawkins has rebounded and sales taxes total $408,419 this year compared to $397,755 last year, up almost 2.7%. The November income of $45,610 is a 23% gain over November 2021 when $37,053 was received.

Mineola’s November income is up almost 15% from $245,289 last year to the current $281,935. That brought the yearly total to $2,718,773 which is more than 13.5% ahead of last year when the city collected $2,393,900 through November.

That’s already more than was collected all of last year when income totaled $2,614,521.

Quitman reported a rebate of $80,545 for November, up almost 8% from last year’s $74,654. For the year the city has earned $891,414, almost 9% better than last year’s $818,507.

It will also set a record as last year the city received $887,906.

Winnsboro received $143,749 in November for a 6% gain over November 2021. The total for the year is up 7% at $1,478,363.

Yantis collections are running 2.61% ahead of 2021 at $100,508 with the November rebate of $11,447 up 8.54%.