Sales tax revenue continues to increase
By LAURA CHILDRESS

While high gas prices and low consumer confidence ratings are impacting the economy, Texas cities continue to see a steady increase in their sales tax revenue.

“For the first nine months of fiscal 2008, state sales tax collections are up 5.8 percent over the same period in fiscal 2007,” State Comptroller Susan Combs said. “While increases are smaller than in 2006 and 2007, growth in state sales tax revenues continues at a healthy rate.”

Thanks to an influx of sales tax revenue generated by new businesses in the area, Little Elm enjoyed a 76.75-percent increase in its June rebate, compared to that of a year ago, up from $127,825.42 to $225,938.34. The town’s has collected $1,234,265.42 to date this year, 46.48 percent ahead of 2007’s numbers, up from $842,572.33 as of this time last year.

Oak Point also enjoyed a marked increase over last June’s rebate, up 45.54 percent, from $7,188.25 to $10,462.06. The city is up 14.52 percent for the year, from $49,189.44 to $56,333.11.

Neighboring Cross Roads more than tripled its June 2007 check, receiving $76,665.96 for the month, up 203.41 percent from $25,267.59. The town is 72.31 percent ahead for the year, up from $133,848.83 to $230,640.27.

Aubrey, however, saw a dip in its monthly sales tax revenue, collecting $43,110.62, down 5.86 percent from last June when it took in $45,798.49. For the year, though, the town remains slightly ahead of 2007’s figures, up 0.10 percent, from $253,695.94 to $253,972.

As for the big three in the area, Denton and The Colony were above the state average, while Frisco saw a rare decline in its monthly sales tax revenue.

Denton was up 9.53 percent for the month, up from $1,427,826.77 to $1,563.932.75, putting it 3.8 percent ahead for the year, up from $9,1792,945.443 to $10,165,643.40. The Colony saw a 19.65-percent increase for the month, up from $397,191.16 to $436,495.70, and is up 6.64 percent for the year, from $2,699,009.23 to $2,878,425.30. Frisco was down 5.29 percent in June, from $3,017,027.66 to $2,857,326.94, but continues to see an increase for the year, up 3.42 percent, from $19,020,777.89 to $19,672,093.08.

The state comptroller sent June sales tax allocations of $306.3 million to Texas cities, up 8 percent compared to June 2007. So far this calendar year, city sales tax allocations are up 5.4 percent compared to the same time period last year.

Denton County municipalities were well ahead of the state average, seeing a 19.65-percent increase in their monthly sales tax revenue, up from $5,457,810.56 to $6,530,547.96, and are up 8.10 percent for the year, from $37,621,329.27 to $40,670,80.56.

State sales tax collections in May and local sales tax allocations in June represent sales that occurred in April and were reported to the Comptroller in May.