Weatherford Democrat

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May 13, 2011

Sales tax momentum stays up

PARKER COUNTY — Sales tax revenue continues its upward momentum in Weatherford and across the state.

Figures released this week for sales tax allocations show Parker County up 5.22 percent over this time last year and Weatherford up 7.94 percent.

“We are pleased that the local sales tax is now in a strong recovery trend,” Weatherford Economic Development Authority Executive Director Dennis Clayton said. “March is historically a strong month for sales tax — clearly consumer confidence and spending continues strong, highway access is improving greatly for customer access to our stores, and we are buying for spring plantings and events.”

Clayton said Weatherford is a regional sales hub for surrounding counties looking to purchase home improvement items, patio, lawn and garden products, plants and treatments.

“The continued completion of the highway frontage roads and access routes has and will increase the interest in new retailers that should expand future shopping opportunities and increase new retail store development,” he said.

Revenue for the state is up $1.87 billion, or 11.4 percent over 2010, according to a report released by Texas Comptroller Susan Combs.

“This is the 13th straight month in which state sales tax revenue has increased,” Combs said in a release. “Business spending in sectors such as the oil and gas industry helped boost sales tax collections. Tax revenue from retail spending also showed growth.”

Combs will distribute $600.1 million in local sales tax allocations today, up 5.8 percent compared to May 2010. So far this calendar year, local sales tax allocations to cities, counties, transit systems and special purpose taxing districts are up 7.1 percent compared to a year ago.

The sales tax allocations to local governments represent March sales reported by monthly tax filers and January, February and March sales reported by quarterly tax filers.

For more a detailed report of sales tax allocations state wide visit www.window.state.tx.us/taxinfo/allocsum/compsum.html.

 

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