City's sales tax revenue continues to climb
GLEN ROSE — For the 10th consecutive month, the city of Glen Rose has seen an increase in sales tax revenue based off the same time period from the previous year.
“I’ve been on the council since 2011, and we have had our ups and downs, but it’s been consistent this year,” Glen Rose Mayor Pro Tem Dennis Moore said. “Since January, we’ve been up every single month. Overall, our sales taxes are going great right now.”
Earlier this month, the city of Glen Rose received a net payment of $101,492.29 from the state of Texas, up from $89,416.78 from this time last year, representing a 13.5 percent increase. These allocations are based on sales made in August by businesses that report tax monthly.
For the year, the city has received $979,903.64, up from $812,108.57 for a change of 20.66 percent.
“Even if more comes in than we anticipated, we can’t spend that. It goes into our reserves that will be available for future years,” Glen Rose City Administrator Michael Leamons said. “We did budget this fiscal year, which started in October, that it would be the same as we experienced the past 12 months.”
So far, the figures have been higher than projected.
“Tractor Supply wasn’t here a year ago, so that is going to be additional revenue,” Leamons said. “The reports I’ve had on tourism are that it’s up. Oakdale Park is doing better this year that it did a year ago. We’ve had more visitors, and that will translate to the retail places in town.”
Earlier this month, Texas Comptroller Glenn Hegar distributed $735.9 million in local sales tax allocation to cities, counties, transit systems and special purpose taxing districts. The figure represents an 11.4 percent increase statewide from October 2017 and a year-to-date change of 9.1 percent.
“There is an overall boom in the economy in the United States and in Texas, and tourism is a big part of our economy,” said Moore.
In the surrounding cities, Hico is up just 11 percent over a year ago, while Hamilton is up 4.67 percent, Stephenville 4.67 percent and Granbury 8.11 percent.
“Percentage-wise, we’re beating everybody in the area,” Moore said. “No one is at 20 percent, and Hico is the closest at 11.86 percent for the year.”