BUSINESS HEADLINES

Sales taxes increase by double digits

By Richard Greene | Published Saturday, September 15, 2018
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Sales tax

As Wise County and many of its cities wrap up their fiscal years this month, they will receive one last big sales tax deposit as the local economy continued its recent roll.

Eight of 12 cities and the county enjoyed a double digit increase in sales tax receipts from sales in July as compared to the same month in 2017. The July sales were from the September report from the Texas Comptroller released this week.

Wise County’s collections off its half-cent of sales tax grew 24.81 percent to $366,339 in July. The county has brought in $3.041 million since November 2017, 10.67 percent more than the $2.748 million collected from November 2016 to July 2017.

“It’s a good sign. We’re significantly ahead of where we budgeted,” said Wise County Judge J.D. Clark. “Seeing how this year tracked, we’ll be able to budget for more next year.

“It means people are spending money here and investing in our local economy.” Decatur brought in $337,343, almost $10,000 more than July 2017. The month helped Decatur close out the fiscal year with nearly $4.5 million in total collections, including the near $1.5 million for the Economic Development Corporation.

“We were an eyelash from $4.5 million total,” said Decatur City Manager Brett Shannon. “It was a very good year. Hopefully 2019 will be a repeat.”

Over the past nine months from November 2017, Decatur has collected $3.479 million.

Bridgeport hauled in $248,409 in July, 62.26 percent more than the $153,091 from July 2017. Bridgeport’s receipts of $1.594 million for the past nine months are 10.57 percent more than from November 2016 to July 2017.

Chico saw the biggest jump in the county more than tripling its collections from July 2017 of $15,367 with $49,867 in July of this year.

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