Sales tax receipts come roaring back

By Phil Major
publisher@wood.cm
Posted 5/20/21

After the February freeze slowed economic activity locally, sales in March came storming back.

The city of Mineola set a record for monthly sales tax income, and revenues were up across the board in Wood County.

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Sales tax receipts come roaring back

Posted

After the February freeze slowed economic activity locally, sales in March came storming back.

The city of Mineola set a record for monthly sales tax income, and revenues were up across the board in Wood County.

The May report from the state comptroller’s office is primarily for sales recorded by merchants in March and reported to the state in April.

The highest sales tax month is typically February because that report reflects December Christmas sales.

But the Mineola income of $263,787 in May far eclipsed the previous record of $238,656 in February.

The result more than negated the lost income which showed only $151,356 in April, which was the lowest rebate for the city in four years.

Mineola’s check from the state was up almost 30% from May 2020 and brought the yearly total to $1,051,286 for a gain of 7.2% over last year.

Quitman revenues for the month were $84,341, a gain of almost 17% since last year’s May revenues of $72,283. For the year Quitman has received $360,201 in sales tax revenue for a 6.5% gain.

Alba income jumped more than 50% to $23,440 for the month which put the city back ahead of 2020 with total revenues of $105,614 compared to $102,386 at this time in 2020.

Yantis received $10,347 as its share of the sales tax compared to $8,709 in May 2020. For the year the city has earned $44,599, a gain of 21%.

Hawkins showed May income of $40,670 for a 44% gain, bringing the yearly total to $159,214, a 20% gain.

Winnsboro tax income was up 25% from May 2020 to $153,524. For the year the city has had tax revenues of $616,741, a gain of almost 20%.

The cities each collect a 1.5% tax on top of the state’s 6.25% sales tax. Wood County collects an additional half-percent for a total tax of 8.25% in cities.

The county collected $246,895 in May which is a gain of 19% over last year. For the year Wood County sales tax revenues of $1,008,040 are up by 7.6% since last year.

Combined, the six cities and the county received $823,007 in May and have earned $3,345,696 in the first five months of the year.