Texans need no excuse to boast state pride, but bragging rights have been given the state seal of approval this month through two recent Texas Government reports on our healthy and hearty economy.
Texas Comptroller Susan Combs reported in May that state sales tax revenue in April was $2.27 billion, up 5.6 percent compared to April 2013 marking the 49 consecutive months of growth in sales tax collections.
Atascosa County saw a 26.48% increase with a paycheck of $851,361.74 bringing year to date sales allocation payments to $3,563,346.48. Atascosa County received the largest net payment compared to our neighboring counties of Bee, Frio, Medina and Karnes. Karnes brought in the next largest payment totalling $837,731.04.
The city of Pleasanton received a net payment this period of $754,225 compared to the prior year’s same payment period which totaled $525,582 for an increase of 43.50%. Jourdanton had a substantial gain with $108,713 collected in April compared to $82,284.69 last year for a 32.11% increase.
Sales tax allocation for the county has substantially increased since 2009 when the year’s total was $1,203,323 (see graph below). The 2013 sales tax allocation total for Atascosa County was $7,795,996 for a five year increase of $6,592,673.00.
Sales tax rebates are a major economic indicator for Atascosa County and demonstrate a profitable environment for our communities’ local merchants. These significant rebates also help keep property taxes down. Tax allocations serve as the largest source of revenue for the city’s government supplying the general fund as well as the main operating fund.
The oil boom and natural gas industry have no doubt been the main factor in increased sales tax collections. But, Combs states that retail sales have as well. “Increased business spending in the wholesale trade sector also contributed to the latest monthly gain as well as increases in the telecommunications sector and services sector,” said Combs. “This marks 49 consecutive months of growth in sales tax collections.”
According to the Texas Comptroller’s office, it is estimated that in fiscal years 2014-15, sales tax collections will reach $54.8 billion, a $4.7 billion increase, which is 9.4 percent over current collections for fiscal years 2012-13.
In more good Texas economic news, The Texas Workforce Commission released a report last week that stated that Texas employers expanded their payrolls by 64,100 jobs in April. That brought the total of seasonally adjusted nonfarm jobs added over the year to 348,000 .
The Texas unemployment rate fell to 5.2 percent in April, down from 5.5 percent in March and down from 6.4 percent a year ago. According to the Texas Workforce Commission (TWC), April 2014 saw the highest monthly job growth for the state of Texas in the last three years.
These are key Texas economic indicators that Texans have been successful in acquiring jobs that are providing them with money to spend.
MONTHLY CITY SALES AND USE TAX
Comparison Summary – May 2014
|Atascosa||Net Payment||Comparable||Pmnt. Percent||2014 Payments||2013 Payments||Percent|
|Co. Cities||This Period||Prior||Year Change||To Date||To Date||Change|
|Cities Total||$ 1,025,109.69||748,788.91||36.90%||4,441,361.22||3,225,876.67||37.67%|
May rebate allocations include taxes collected on March sales and reported to the Comptroller in April by businesses filing monthly reports. Statistics supplied by Comptroller of Public Accounts, State of Texas Pleasanton Express Graphic
COUNTY SALES AND USE TAX
Comparison Summary – May 2014
|Net Payment||Comparable Pmnt.||Percent||2014 Payments||2013 Payments||Percent|
|County||This Period||Prior Year||Change||To Date||To Date||Change|
Statistics supplied by State Comptroller of Public Accounts. Pleasanton Express Graphic
LOCAL COUNTY SALES TAX ALLOCATIONS – MAY
COMPILED BY: THE COUNTY INFORMATION PROGRAM, TEXAS ASSOCIATION OF COUNTIES DATA SOURCE: TEXAS COMPTROLLER OF PUBLIC ACCOUNTS. LOCAL SALES AND USE TAX – ALLOCATION HISTORICAL SUMMARY. (2013)