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More than $514 million in monthly sales tax allocation payments will be distributed to Texas governments during June, a 9.7 percent payment increase compared to the same month of 2011.
Texas Comptroller Susan Combs said Wednesday that state sales tax revenue in May was $2.09 billion, up 7.3 percent compared to May 2011.
Revenue figures are based on sales made in April.
“This marks 26 consecutive months of sales tax growth,” Combs said in a press release. “As the recovery continues, the year-to-year rate of growth is stabilizing. Collections remain strong in the oil and natural gas-related sectors as well as other segments of the Texas economy, such as the restaurant industry.”
Locally, the June allocation payment is $895,466 for Cooke County — a 61.7 percent increase compared to the $553,827 amount of June 2011. The breakdown follows, along with a comparison to June 2011: Gainesville received $829,725, a 64 percent increase; Lindsay received $6,763, a 15 percent decrease; Muenster received $39,660, a 55 percent increase; Oak Ridge received $7,042, a 15 percent increase; and Valley View received $12,273, a 42 percent increase.
Statewide, the allocation breakdown of the $514.1 million follows: $337.4 million to cities, an 8.2 percent increase compared to June 2011; $34.3 million to counties, a 12.8 percent increase; $116.6 million to transit systems, a 10.6 percent increase; and $25.8 million to special purpose taxing districts, a $22.5 percent increase.
Local News
State sales tax collections grow for 26th straight year
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GISD board earmarks funds for improvements
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Summer Sounds series continues June 28
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NCTC regents approve new staff positions
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NCTC's Wallace elected TCCIA secretary
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Farm Service Agency accepting committee nominations
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Council to hear name change for Weber Drive
An ordinance proposing a name change for Gainesville’s Weber Drive is set to get a public hearing during Tuesday’s regular city council meeting.
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Drought continues throughout state
Despite the helpful torrents of rainfall received in Cooke County lately, many areas in Texas are still classified as being in drought status.
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