Sales Tax Revenue Up for Lexington and Lee County
Sales Tax revenue for the City of Lexington, as well as for Lee County continues to grow. Lexington’s revenue report from the Texas Comptroller’s office is up 13% year to date, while the county as a whole is up 21.77%. Sales tax revenues in both Lexington and Lee County have been up for at least the past six months, showing a strong business climate for the area.
Comptroller Susan Combs said that state sales tax revenue in June was $1.98 billion, up 15.2 percent compared to June 2011.
“Sales tax revenue has increased for 27 consecutive months in Texas,” Combs said. “Strong business spending in industries such as manufacturing and oil and natural gas boosted the latest sales tax collections. Revenue from consumer spending in the retail trade and restaurant sectors also did well.”
Combs sent July local sales tax allocations totaling $534.6 million to cities, counties, transit systems and special purpose taxing districts. State-wide July sales tax allocations are up 12.7 percent compared to July 2011. The sales tax figures represent monthly sales made in May.
The City of Lexington received $16,164.95, compared to $12,451.78 for the same period last year. That represents a more than 29% gain. Lee County’s total allocation reported by the Comptroller for July was $166,213.72, compared to $125,697.46 for the same period last year. The county is up 32.23%.
JULY 2012 SALES TAX ALLOCATION