Glen Rose sees small increase in January sales tax allocation
GLEN ROSE — After having one of its best years for sales tax allocation in 2018 in topping $1 million, the city of Glen Rose is off to a good start in 2019.
When Texas State Comptroller Glenn Hegar released the figures last week for the first month of the new year, Glen Rose received $88,707.98, a 2.63 percent increase over what it received at the same time last year.
In all, Hegar sent cities, counties, transit systems and special taxing districts a total of $734.7 million, a 3.6 percent increase over January of last year. The figures are base on sales made in November by businesses that report their taxes on a monthly basis.
Although Glen Rose’s allocation was just under 3 percent over last year, there should be no reason to be alarmed because January 2018 was the second-lowest month of the year in sales tax allocation. Only March 2018 was less.
In comparison, Stephenville was up 11.48 percent over January 2018, while Cleburne was up 5.25 percent over January 2018, followed by Hico at a 2.71 percent increase, while Fredericksburg was down a negative 6.63 percent.
Hegar also announced that the state’s December 2018 sales tax revenue totaled $2.87 billion, a 4.7 percent increase over the previous year.
"Growth in state sales tax revenue continues to be led by remittances from oil and gas-related sectors," he said. "The year-over-year rate of growth has moderated, as expected, due to strong collections from a year ago as well as the decline in the price of crude oil."