Teague sales tax revenue up 26 percent

Texas Comptroller Glenn Hegar, today, said state sales tax revenue totaled $2.6 billion in October, 7.3 percent more than in October 2017. “Growth in state sales tax revenue continues to be strong, while moderating from the double-digit pace of recent months,” Hegar said. “The rate of growth in sales tax collections continues to be highest from oiland gas-related sectors.” Total sales tax revenue for the three months ending in October 2018 was up 12.6 percent compared to the same period a year ago.

The sales tax is the largest source of state funding for the state budget, accounting for 57 percent of all tax collections. In October 2018, Texas collected the following revenue from other major taxes on motor vehicle sales and rentals, motor fuel and oil and natural gas production: The cities reporting an increase in revenue for Freestone County are Fairfield with a 28.61 percent change, Streetman with a 6.50 percent change and Teague with a 26.78 percent change. For the first time in three months, Wortham reports a decrease in revenue coming in with 4.52 percent less than this time last month. But Wortham reports a 27.73 percent increase for the year while Fairfield is still reporting 1.80 percent less for the year.

 

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