Houston Sales Tax Revenues up 18% from July 2011

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Texas Comptroller Susan Combs announced the state collected $2 billion in sales tax revenue in June. That’s an increase of more than 15% from June 2011.

June marks the twenty-seventh straight month sales tax revenue has increased for Texas. Strong business spending in manufacturing and the oil and gas sector helped drive the gains. Consumer spending in the retail and restaurant sectors also did well.

R.J. DeSilva is a spokesman for the Comptroller’s Office.

“Cities like Houston are also doing well in terms of the trend that the city’s seeing in sales tax revenue increases. The city’s getting about $46.5 million in local sales tax revenue from its latest allocation, and that’s up almost 18% compared to the same month last year.”

The Comptroller’s Office will distribute nearly $535 million in sales tax allocations to local governments this month. Sales tax allocations for July are up almost 13% year-over-year.

 

Sales Tax

chart provided by the Texas Comptroller's office

 

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Andrew Schneider

Business Reporter

Andrew Schneider joined KUHF in January 2011, after more than a decade as a print reporter for The Kiplinger Letter...