BUSINESS HEADLINES

Boyd MDD breaks $50K in collections

By Richard Greene | Published Saturday, May 11, 2019
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With its sixth disbursement this week, the Boyd Municipal Development District cracked $50,000 in sales tax collections.

Boyd voters approved the creation of the district in May 2018, which moved 0.5 cents of the city’s tax rate to it and dropped the general fund rate to 1 cent in October 2018. Since October, the district has brought in $57,422, according to the May report from the Texas Comptroller.

The May disbursement, which reflects March sales, was $12,426.

“The thing I’m most excited about is the citizens did this by approving the district,” said Boyd city administrator Greg Arrington. “Now, we have a group of citizens on the board that are working hard to do great things in the community. There are five business improvement grants underway. We’ve made upgrades at the park. We’ve started movies in the park. Without [the MDD], I don’t think any of this would have happened.”

Arrington said the MDD is on pace to reach its budget of $110,000.

Wise County’s March sales tax revenues were up almost 10 percent from the same month last year. The county collected $409,961 off its half-cent. Since January, $1.817 million has been disbursed to the county – an 11.42 percent increase from last year.

Decatur’s May disbursement was $399,939, a decrease of 5.45 percent from May 2018’s $422,992 on its 1.5 cents of sales tax. Decatur City Manager Brett Shannon said the city had approximately $16,500 last May in prior period, future and audit collections that impacted the total.

“We were within $10,000 with current period collections,” Shannon said. “I’ll take $400,000 any day.”

The city has received $1.812 million in the past five months. Next month, the city will see the first sales tax collections from the opening of QuikTrip.

Bridgeport brought in $199,523 off the March sales, which was down slightly more than $15,000 from the $214,181 for the same month in 2018. Bridgeport’s collections are 0.77 percent ahead of 2018 at $850,181 in the past five months.

Chico, Lake Bridgeport, New Fairview and Paradise had double-digit jumps from May 2018. For the year, Chico’s collections are 49 percent ahead of 2018 at $137,729.

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