Sales taxes see slight gain to start new year

Posted 1/14/21

Sales tax revenue in Wood County started the year ahead of last year, with the first report for 2021 from the state comptroller’s office.

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Sales taxes see slight gain to start new year

Posted

Sales tax revenue in Wood County started the year ahead of last year, with the first report for 2021 from the state comptroller’s office.

The report is primarily for sales made in November and reported to the state in December.

The seven Wood County entities that earn sales tax revenue collected $606,864 in January compared to $582,909 the same month a year ago.

Two cities did start the year off with lower tax revenue, Mineola and Quitman.

Mineola received $187,386 as its monthly share of the tax on retail sales, down 6.26% form last year’s $199,920.

Quitman’s income of $61,727 was off by 2.23% from 2020 when $63,141 was received.

Six cities in Wood County collect a 1.5% tax on retail sales on top of the state’s 6.25% tax. Wood County collects an additional half-cent for a total tax rate of 8.25% inside cities and 6.75% outside of incorporated areas.

Wood County showed a 3% uptick in revenue, from $176,271 in January 2020 to $181,759 in 2021.

Alba revenues jumped by a third from $20,849 to $27,842.

Yantis saw a 41% increase from $6,036 to $8,511.

Hawkins income of $29,025 is up by 41% from $20,587.

Winnsboro recorded an increase of 15%, rising from $96,103 to $110,612.

Combined, the six cities recorded $425,105 in revenue, compared to $406,638 in January 2020.