Monthly sales tax revenues increase 7.56 percent

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Monthly sales tax revenues increase 7.56 percent

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The office of Texas State Comptroller Glenn Hegar released its latest monthly sales tax revenue last week indicating that, for the second consecutive month, six out of seven local entities had posted sales tax revenue gains when comparing against the same period from the previous year.

Edom was Van Zandt County’s lone outlier in the month of July, receiving a payment of $1,955.85. That total was just .96 percent or $18.95 short of the $1,974.80 payment received in July 2021.

Canton led the way locally with the largest positive dollar change, receiving a payment of $390,154.13 in July. That total was $27,411.87 higher than the city’s July 2021 payment.

Wills Point, which saw sales tax revenue totals increase 14.93 percent when comparing May 2022 against May 2021 and 24.58 percent when comparing June 2022 against June 2021, continued its run of strong gains with monthly collections increasing 12.56 percent in July.

Edgewood bounced back from a rocky June in which it was the only county city to lag behind its 2021 pace with a strong July. The city received a payment of $42,600.79 from the comptroller’s office, an $11,547.88 increase over its July 2021 payment total.

The City of Van also enjoyed a solid month, receiving a payment of $89,062.69. That payment was $6,599.73 higher than the $82,462.96 payment that Van received last year at the same time.

Fruitvale easily paced the field as the largest local gainer with collections increasing a county-best 86.79 percent when comparing against the same calendar month from the previous year. The city pulled off a similar feat in June when collections increased a county-best 40.64 percent.

Grand Saline rounded out the list of local gainers as collections increased $1,849.43 from $59,476.36 in July 2021 up to $61,325.79 in July 2022.

Combined, the cities of Canton, Edgewood, Edom, Fruitvale, Grand Saline, Van and Wills Point saw an increase of $585,341.26 when comparing against collection totals recorded during July 2021.

In announcing the news, Texas State Comptroller Glenn Hegar stated this his office would be sending, “cities, counties, transit systems and special purpose taxing districts $1.03 billion in local sales tax allocations for July, 15.3 percent more than in July 2021. These allocations are based on sales made in May by businesses that report tax monthly.”

Yearly collection totals

Canton, up $315,766.18, Wills Point, up $161,109.83, Van, up $48,459.72, Edgewood, up $45,941.01, Fruitvale, up $17,406.96, and Edom, up $5,765.65, are all ahead of their 2021 pace through seven months. Grand Saline currently trails its 2021 pace by $9,108.09 with five months left in 2022.