Sales Tax Revenues Plummet
Sales Tax revenues for Lee County plummeted this month as State Comptroller Susan Combs sent allocations to area cities last week.
“Declining sales tax collections [throughout the state], beginning in February 2009, have now extended through December 2009,” Combs said. “As has been seen the past several months, collections are down across most major sectors of the Texas economy, including oil and natural gas, construction, manufacturing and retail trade. It is expected the double-digit declines in tax collections seen over the last halfyear will first moderate with collections returning to growth during the first or second quarter of 2010.”
Lee County’s sales tax revenues declined 25.02% in December over the same period the year before. That includes a 19.18% decline in Lexington’s sales tax revenue and a 25.78% decline in Giddings’ sales tax revenue.
Milam County also suffered with their sales tax revenue in December, showing a 25.53% decline, with Rockdale’s declining 21.23%. However, Bastrop and Burleson counties each bucked the trend, showing improved sales tax revenue up 2.32% and 6%, respectively, in December over the previous year’s collections.
December state sales tax collections and January allocations to local governments represent sales that occurred in November.
JANUARY 2010 SALES TAX ALLOCATION AMOUNTS
|Elgin||$ 86,269.98||$||83,458.61||+ 3.36%|