Glen Rose trending up in sales tax allocation funds
GLEN ROSE — While October’s 2020 sales tax allocations were down 2.8% statewide compared with October 2019, the city of Glen Rose has seen an increase in sales tax revenue in the first 10 months in the year of the pandemic.
Last week, Texas Comptroller Glenn Hegar sent cities, counties, transit systems and special purpose taxing district $751.5 million in local sales tax allocations, based on sales made in the month of August by businesses reporting monthly.
Included in that figure was $110,856.26 sent to the city, which is a substantial increase (20.82%) over the same period last year when the city received $91,161.08.
Through the first 10 months of 2020, the city has collected $1,060,706.37 while last year at this time the city had brought in 1,040,635.46 --- a difference of 1.92%.
By comparison for the month of October, neighboring Hico went up .33%, Stephenville went up 14.96% and Cleburne went up 15.83%, while Granbury is down .44%.
The past three months of this year (August through October), despite the pandemic, the city of Glen Rose brought in $359,126.34 in sales tax allocation compared with $301,517.15 over the same period a year early, so the numbers are trending up.
Where the city currently stands in sales tax allocation, it would need to collect $197,207.65 in the remaining two months, and with the direction it is heading, that will most likely happen. In the final two months of 2019, the city collected $217,278.56.
For 2019, the city was allocated $1,257,914.02 in sales tax. If the city reaches that figure, it will mark the third consecutive year that it has collected more than $1 million.