AUSTIN -- For the first time in quite a while, sales tax allocations for both the Seminole and Seagraves community had failed to exceed amounts received by the respective municipalities when compared in a month-to-month study.
But despite the slight decreases, reported at 0.94-percent and 4.54.percent respectively for the Seminole and Seagraves communities, both entities remain well ahead of year-to-date sales tax allocation payments, according to the latest report from the Texas Comptroller's Office on Wednesday.
Texas Comptroller Susan Combs said Wednesday that state sales tax revenue in February was $2.2 billion, up 5.8 percent compared to February 2013.
“Sales tax revenue continues its growth streak and has now increased for 47 consecutive months,” Combs said. “Growth in tax collections was seen across all major economic sectors including oil and gas, wholesale trade and the services sector.”
Combs will send cities, counties, transit systems and special purpose taxing districts their March local sales tax allocations totaling $553 million, up 4.1 percent compared to March 2013.
The sales tax figures represent January sales reported by monthly tax filers.
Locally, the City of Seminole received an allocation payment of $141,936.97 for the month of March 2014, for sales transactions occurring during the month of January 2014, which was down just $1,349.70 from the March 2013 allocation payment of $143,286.67 received by the municipality last year.
Year-to-date, the City of Seminole has received $510,152.25 in allocation payments for the 2014 calendar year, which is up 15.75-percent from March 2013's year-to-date total of $40,721.54 received by the entity through the first three months of last calendar year.
In Seagraves, an allocation payment of $21,324.93 was received by the municipality from the Comptroller's office for March 2014, which was down just $1,014.35 from March 2013's allocation payment of $22,339.28.
Year-to-date, the City of Seagraves has received $92,945.42 in allocation payments from the Comptroller's Office, which is up 43.15-percent from March 2013's allocation payment total of $64,928.11 for the first three months of that calendar year.
For details of March sales tax allocations to individual cities, counties, transit systems and special purpose districts, locate the Monthly Sales Tax Allocation Comparison Summary Reports on the Comptroller’s Web site at www.window.state.tx.us/taxinfo/allocsum/compsum.html.