Dublin sales tax collections were up significantly in July at 27.23%, compared to July 2023, according to the state sales tax report released by Texas Comptroller Glenn Hegar.
For the month of July, Dublin received $61,376.16, compared to $48,238.10 in July 2023.
(Sales tax reports generally reflect sales from two months prior as the local sales are reported to the state which processes them and disburses sales tax back to the local entities.)
Several new businesses opened around that time frame including Dollar General Market, All About You Salon and Spa and Gorditas Durango, which possibly contributed to the increase in sales tax.
Texas Comptroller Glenn Hegar recently Texas Comptroller Glenn Hegar recently released totals for fiscal 2024 state revenues, in addition to announcing monthly state revenues for August.
Hegar said state sales tax revenue totaled $4 billion in August, 0.4% more than in August 2023. The majority of August sales tax revenue is based on sales made in July and remitted to the agency in August.
“August sales tax collections grew modestly from a year ago, and at less than the rate of general price inflation,” Hegar said. “Growth was muted from both consumer and business spending-driven sectors, as consumer spending continued to subside from the post-pandemic inflationary surge.
“Sales tax receipts among sectors reliant on business spending were mixed, with gains observed from construction and wholesale trade and declines from mining and manufacturing. Consumers continued to boost receipts for the services sector significantly, but receipts from retail trade grew barely more than 1 percent over the previous year.
“Receipts from restaurants declined slightly from a year ago, the first decline for the sector since the pandemic.”
Total sales tax revenue for the three months ending in August 2024 was up 0.3% compared with the same period a year ago. Sales tax is the largest source of state funding for the state budget, accounting for 57% of all tax collections.
Texas collected the following revenue from other major taxes in August: motor vehicle sales and rental taxes — $649 million, down 2% from August 2023; motor fuel taxes — $330 million, up 0.2% from August 2023; oil production tax — $543 million, up 8% from August 2023; natural gas production tax — $80 million, down 42% from August 2023; hotel occupancy tax — $69 million, down 2% from August 2023; and alcoholic beverage taxes — $139 million, down 6% from August 2023.
General Revenue-related revenue for fiscal 2024 totaled $83.78 billion, up 1.1% from fiscal 2023.
“Total revenue for fiscal 2024 finished largely in line with expectations, onehalf of 1 percent below our Certification Revenue Estimate issued last October,” Hegar said. “Tax revenue was down 0.3% from fiscal 2023 and below estimate by 1.3%, while non-tax revenue fell by 6.1% from last year, exceeding estimate by 0.2%. The tax revenue results reflect the decline in general price inflation and a slowing in the rate of growth.
City July2024 July2023 Rate Dublin $61,376.16 $48,238.10 27.23% Stephenville $764,391.33 $719,993.56 6.16% DeLeon $40,855.08 $33,082.57 23.49% Comanche $116,699.35 $102,941.81 13.36% Hico $51,438.68 $44,915.39 14.52% Hamilton $72,925.61 $66,080.54 10.35%