Weatherford Democrat

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December 30, 2012

Sales tax receipts up

(Continued)

“You want the businesses to do well but you also want the revenues,” she said.

Sales tax collections are the largest single revenue source for the city, but Jewel said the city has a good balance between sales and property tax revenues, as well as other revenue sources that help fund the city’s daily operations. She said sales tax revenues fund about 40 percent of the city’s general fund expenditures, while property tax revenues provide about 20 percent.

“I really like our balance here,” Jewel said. “It is such that if one is really off it is not such a big hit.”

Other Parker County towns that collect sales taxes saw some huge jumps in their December checks compared to December 2011. Springtown’s December check was nearly double, at 97 percent, while Sanctuary saw a 91 percent gain.

Annetta’s December check reflected an 80 percent increase while Willow Park, Annetta South, Reno and Millsap also saw increases above 20 percent.

Statewide, December sales tax disbursements totaled more than $552 million, a 15.5 percent increase over December 2011.

Texas Comptroller Susan Combs said state sales tax revenue reported in November was $2.34 billion, up 13.1 percent compared to November 2011.

“Gains across major sectors boosted state sales tax revenue,” Combs said. “Collections were strong in sectors such as retail trade, manufacturing, oil and natural gas, construction and telecommunications.”

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