Glen Rose sales tax allocations continue to climb
GLEN ROSE — In the financial trade markets, there's a saying, "The trend is your friend until it isn't."
Right now, for the city of Glen Rose, sales tax allocation has been a friend of the city by trending in the right direction for more than a year.
“Definitely, we've been in an uptrend for the past year, and that's a blessing,” said Glen Rose City Administrator Michael Leamons.
Earlier this month, Texas Comptroller Glenn Hegar sent cities, counties, transit systems and special purpose taxing districts $893.2 million in local sales tax allocations, and that figure is 20% more than July of 2020, Hegar said. The July allocation is based on sales made in May by businesses that report tax monthly.
In July, Glen Rose received $114,263.74, making the 15th consecutive month with an allotment more than $100,000. The July total is 13.39% higher than the total over July 2020.
“These sales tax revenues are used to fund city services,” Leamons said. “Because of its relatively high sales tax revenues, Glen Rose doesn't have to rely as heavily on property tax revenues as is the case in many other similar-sized cities. Higher sales tax revenues is one of the perks of being a tourist attraction.”
In the last three months alone, the city received $437,734.91 (May, $171,528.37; June $136,631.88; and July $129,574.66).
For the year, Glen Rose has collected $926,923.03, and that is 32.11% higher through July 2020 ($701,580.03). Last year, the city collected a total of $1,325,034.51.
By comparison, Stephenville is up 24.28%, while Cleburne and Hico are up 15.03% and 7.83%, respectively, for 2021.