San Angelo's Sales Tax Revenue Remains Depressed
SAN ANGELO, TX — While Texas Comptroller Glenn Hegar said today that statewide sales tax revenue totaled $2.24 billion in March, 3 percent more than in March 2016, sales tax collections in Tom Green County remain depressed.
The March 2017 returns show this county trailing 2016’s same period last year down 4.01 percent. Overall, Tom Green County is down 2.12 percent for the year, when compared to last this time year.
Around the region, Midland County increased sales tax revenue by 16.14 percent in March, but is still down 0.96 percent for the year. In Reagan County, where Big Lake is located, sales tax revenue was down 14.6 percent for the month and 23.6 percent for the year.
The City of Abilene is up 3.81 percent for the month and up 0.7 percent for the year. The City of San Angelo was down 4.21 percent for the month and down 0.92 percent for the year.
The City of Mertzon is a glimmer of hope. Its March 2017 sales tax revenue was up 29.94 percent, but for the year, it went down 12.38 percent.
|City or County||March 2017 Trend||Trend YTD|
|City of San Angelo||-4.21%||-0.92%|
|City of Midland||7.90%||-5.49&|
|City of Odessa||20.86%||5.94%|
|City of Abilene||3.81%||0.70%|
|City of Big Lake||-26.31%||-18.37%|
|City of Mertzon||28.94%||-12.38%|
|City of Ballinger||-17.56%||1.87%|
“Overall net growth in sales tax revenue represents mixed performances by major industry sectors,” Hegar said. “Collections from the manufacturing, wholesale trade and information sectors increased, while receipts from construction, retail trade and restaurants declined from last year’s levels.”
Total sales tax revenue for the three months ending in March 2017 was up by 2.1 percent statewide compared with the same period a year ago.
“Sales tax revenue is the largest source of state funding for the state budget, accounting for 58 percent of all tax collections in fiscal 2016. Motor vehicle sales and rental taxes, motor fuel taxes and oil and natural gas production taxes are also large revenue sources for the state,” Hegar stated in a press release.
In March 2017, Texas collected the following revenue from those taxes:
Motor vehicle sales and rental taxes — $403.6 million, up 2.2 percent from March 2016; motor fuel taxes — $266.3 million, down 5.5 percent from March 2016; and oil and natural gas production taxes — $297 million, up 177 percent from March 2016. The increase is due in part to refunds provided to natural gas severance taxpayers in March 2016, which resulted in artificially low tax collections during that period, Hegar stated.