NEWS HEADLINES

County sales tax revenue grows

By Richard Greene | Published Saturday, December 16, 2017
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Sales tax

Sales tax receipts for Wise County grew by 11.69 percent in October from the same month in 2016, according to this week’s report from the state comptroller.

Wise County brought in $313,011.81 for the month as compared to $280,242.88 in 2016. With two months left in the year to still report, receipts for the county off its half-cent sales tax are up about $230,000 more from the first 10 months of 2016 at $3.747 million.

“It’s a sign of the local economy improving. We’ve had some growth in the county,” said County Judge J.D. Clark.

“It’s a good sign after the big hit from the oil and gas industry; it’s exciting to see sales taxes pick up.”

Along with the extra revenue to fund county services and projects, Clark said it’s great news for local businesses.

“The sales taxes picking up are a sign that our local businesses are finding success. When they find success, they can help fund community endeavors,” Clark said.

Five communities received a bump in sales tax revenues from the previous year. Rhome experienced the biggest jump of 49.64 percent, generating $55,857.75 off its 1.5-cent sales tax.

Decatur brought in 8.88 percent more with sales tax receipts increasing from $298,125.73 in October 2016 to $324,626.52 this year. For the year, Decatur has brought in $4.018 million – an increase of 1.98 percent.

Five communities experienced double-digit dips in sales taxes in October as compared to 2016.

Bridgeport’s receipts dropped 15.21 percent from $161,111.42 to $136,59.27. Through the first 10 months, Bridgeport’s revenue off the 1.5-cent tax is down 3.63 percent or $71,618 at $1.899 million.

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