Mineral Wells Index, Mineral Wells, TX

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March 14, 2014

Sales tax revenue up

By CLINT FOSTER

cfoster@mineralwellsindex.com

 

AUSTIN – The office of the Texas Comptroller of Public Accounts has announced that it will distribute $553 million in sales tax revenue to local governments across the state for the month of March – a figure up 4.1 percent when compared to March of 2013.

 

Of that $553 million, Palo Pinto County and its incorporated cities are set to receive a total net payment of $395,094.48. The county and each city in the immediate area, except Graford, have all seen a positive percentage change when compared to last March's payment as well as 2014 payments to date compared to last year.

 

Local communities are reaping the benefits of a continuing upswing in sales tax revenue across Texas. For example, Texas Comptroller Susan Combs said state sales tax revenue for the month of February was $2.2 billion this year, up 5.8 percent compared to February, 2013.

 

“Sales tax revenue continues its growth streak and has now increased for 47 consecutive months,” Combs said. “Growth in tax collections was seen across all major economic sectors including oil and gas, wholesale trade and the services sector.”

 

The $395,094.48 bound for the local area is set to be divided up as follows:

 

Palo Pinto County will receive $102,321.93, a 14.44-percent increase when compared to the $89,404.97 accrued last March. To date in 2014, the county has received $357,816.50, giving it a meager, but respectable 1.68-percent increase compared to 2013 payments at this point.

Mineral Wells will receive the largest sum of any Palo Pinto County city, at $270,471.53. When compared to last March's $248,279.39, Mineral Wells has shown an 8.93-percent increase. The city has received $939,440.40, so far, in 2014 – a 7.43-percent change compared to 2013.

Strawn garnered the second-highest net payment in the county, with $9,032.92 set to go to the city for March. Last March, Strawn was paid $7,429.95, making this year's payment a 21.57-percent positive change – the largest increase by any city in the area. This March's payment will be rolled into the $33,054.95 Strawn has received in 2014 to date, which is 30.34-percent more than the $25,360.51 they were paid in 2013. 

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