State Distributes $633 Million In Tax Revenue
by: Jack Williams, May 11, 2012 9:05:00 am
The state comptroller's office says it will send more than $630 million back to local governments this month. That's up almost 11 percent compared to taxes collected in April of 2011. RJ DeSilva is with the comptroller's office and says the Texas economy continues to improve.
"It's a continuing trend that we've seen in terms of a major source of tax revenue increasing and it's a result of different aspects of the economy doing well. You've got business spending doing well in the oil and natural gas industry for example where companies, because of increased activity that they're involved in are buying things like equipment and paying sales tax on it and consumer spending has also contributed to the increases in retail trade and the restaurant industry for example."
Houston's sales tax allotment is up 6 percent this month compared to a year ago. Year to date, Houston's share of state sales tax revenues is up more than 10 percent.
|Special Purpose Taxing Districts||$30.2M||↑18.0%||↑23.1%|
Table from the the Comptroller's release. The sales tax figures represent monthly sales made in March as well as January, February and March sales by businesses that report tax quarterly. For details of local sales tax allocations in May to individual cities, counties, transit systems and special purpose districts, locate the Monthly Sales Tax Allocation Comparison Summary Reports.