Recent allocation figures from the state comptroller’s office show Cooke County at a decrease in payment amounts compared to November 2011, but everything’s relative.
Gainesville Economic Development Corporation Executive Director Kent Sharp said the county’s November allocation payment of $769,296 is 28 percent lower than revenue received during November 2011.
But this, he said, is explained by the fact that 2011 was such a distinctly profitable year of local monthly allocation payments.
“Last November was a huge, huge November for us,” he said Friday, adding that November 2011 saw an allocation payment 81 percent higher than the payment received for November 2010. “And though the City of Gainesville is down 28 percent, we’re still in a very high end of collections. When you’re having meteoric increases like we had last year, there will probably be several months this year where we have decreases.”
Texas Comptroller Susan Combs reported Thursday that statewide sales tax revenue in October was $2.03 billion, up 8.2 percent compared to October 2011.
“The state’s growth in sales tax revenue continued to be led by collections from the oil and natural gas-related sectors,” Combs said in a media release. “We also saw strong consumer spending drive gains in retail trade and the restaurant sector as well.”
Combs will send November local sales tax allocations totaling $611.5 million to cities, counties, transit systems and special purpose taxing districts, up 5.4 percent compared to November 2011.
The release explained that the sales tax figures represent September sales reported by monthly tax filers, and July, August and September sales reported by quarterly filers.
The local allocation breakdown is as follows: Gainesville will receive $704,186, a 29 percent decrease against November 2011; Lindsay will receive $9,497, a 19 percent decrease; Muenster will receive $34,888, a 19 percent decrease; Oak Ridge will receive $6,982, a 23 percent decrease; and Valley View will receive $13,741, a 17 percent decrease.
Sharp said that since nearly every month during 2011 was “a record,” the recent decreases are no surprise.
“I told my board to expect negatives,” he said Friday. “But if you compare us to the years of 2008 and 2009, you’re still going to see huge increases. The year 2011 was a world-class year. There was no town that came anywhere close to that for a year-to-year increase. We’re still in the upper echelon.”