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September 14, 2012

State sales tax revenue up 18.5 percent in August

— Texas Comptroller Susan Combs announced Wednesday that state sales tax revenue in August was $2.34 billion, up 18.5 percent compared to August 2011.

The resulting allocations for Texas counties — Cooke in particular — are also higher than the past year, with Cooke County showing a 286 percent increase in payments among five cities, Gainesville most notable of all.

“The strong business and consumer spending trend boosted the monthly sales tax revenue, as did money remitted at the close of the state’s tax amnesty which ended in August,” Combs said in a media release. “The state’s sales tax revenue for fiscal 2012 was $24.1 billion, about 12.6 percent higher than the previous fiscal year.æ

Cooke County’s local allocation payment breakdown is as follows: Gainesville received $2,452,768, a 307.9 percent increase against the payment of September 2011; Lindsay received $7,353, an 11 percent decrease against September 2011; Muenster received $27,882, a .6 percent increase against September 2011; Oak Ridge received $12,761, a 91 percent increase against September 2011; and Valley View received $14,371, a 61 percent increase against September 2011.

 

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