Sales taxes rebound with July sales

Posted 9/14/23

Sales tax revenues in Wood County rebounded in the September report.

All six cities plus the county showed higher sales tax income than in September 2022, and for the year five of six cities …

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Sales taxes rebound with July sales

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Sales tax revenues in Wood County rebounded in the September report.

All six cities plus the county showed higher sales tax income than in September 2022, and for the year five of six cities plus the county remain ahead of last year’s pace.

Alba collected $29,869 this month from the state comptroller’s office, up slightly from $28,692 a year ago. For the year the city has earned $271,585 compared to $243,375 for the first nine months of 2022.

The Hawkins rebate of $48,152 for September was a 46% jump from a year ago. That brought the total for the year to $388,555 for a 20% increase.

Mineola’s income rose slightly from $236,628 a year ago to $238,622 in September 2023. For the year the city has earned $2,302,529 in nine months, a 4.64% gain from the $2,200,328 received in 2022.

Quitman had a 7% bump in September from a year ago with $76,809 compared to $71,567. The total for the year of $741,001 is up just a percent from last year’s $733,937.

Winnsboro made up some ground in September with a rebate of $163,379, up 40% from $116,096 a year ago. It closed the deficit for the year, but the city is still 7.5% behind 2022 with revenues of $1,117,112.

Yantis received $9,982 in September which is a monthly gain of 17.5%. That brought the yearly total to $97,791, up 22.5% from last year’s $79,831.

Wood County cities collect a 1.5% tax on retail sales, and the county collects a half percent. Combined with the state’s 6.25% retail tax, the total sales tax rate in county cities is 8.25% and 6.75% outside cities.

Retailers report sales to the state monthly, quarterly, semiannually or annually.

The September report reflects primarily sales made by merchants in July and reported to the state in August. The state comptroller’s office rebates cities and counties their shares monthly.

The county collected $247,465 in September, an increase of 7.9% from last year. That brought the 2023 total to $2,243,385, which is up almost 4% from 2022 when $2,159,7709 was received for the first nine months of the year.

The state reports sales tax figures on a calendar-year basis, though cities and the county have an Oct. 1 fiscal year, meaning the September report is the final one for the 2022-23 budget year.

Total revenue for the six cities in September was $556,809 compared to $495,523 a year ago. For nine months the cities have earned $4,918,575 this year and $4,787,172 a year ago.

Combined with the county’s income, retail sales in Wood County have generated $7,161,960 for local governments thus far this year.