Local Sales Improve for Second Month in a Row
Lexington’s sales tax numbers indicate that sales for May 2010 were up almost 27% over May of last year. This is the second month in a row for Lexington’s sales to improve. In April 2010, our sales tax revenues were up 6.2% over April 2009. However, while May 2010 Lee County sales tax numbers were also up 2.28% over May of last year, Giddings’ numbers were down, for the same period of time, 0.54%. When looking at other communities around Lexington, Rockdale’s May sales tax numbers were up 9.6%, Elgin’s were down 12.48% and Caldwell’s were up 70.43%.
Overall, year to date percentage changes for sales tax numbers for all these communities were down: Lexington -3.9%; Giddings -9.9%; Rockdale -4.8% and Elgin -0.6%, with the exception of Caldwell, which was up 36.5%.
Texas Comptroller Susan Combs reported that the state collected
1.78 billion in sales tax revenue in May, a 0.1 percent increase compared to May 2009.
“Total sales tax collections have met or exceeded year ago levels for a second month in a row, following 14 months of decline. This may indicate that a bottom has been reached,” Combs said.
in a Row
“May sales tax collections from retail trade, oil and gas, and restaurant activity outpaced those of May 2009. Remittances from other sectors, however, such as construction and manufacturing, fell below last year. Overall economic conditions and sales tax revenues appear to be stabilizing.”