For the fourth month in a row, Dublin sales tax collections were down for sales reported in May.
“When we buy locally, we are not helping a faceless corporation, we are helping our neighbors. These are the people that we see at the ballpark, in the grocery store, or in church. They are an extension of our family in a lot of ways,” EDC Executive Director Penny Corona said. “The portion of sales tax that the Economic Development Corporation receives is put back into the community. The grants that we award go back to the businesses that are generating the sales tax. The more local sales that we have, the more grants we can award. This is a huge incentive to shop local.”
Dublin sales tax collections were down in May, at -8.71% lower compared to May 2022, according to the state sales tax report released by Texas Comptroller Glenn Hegar this month.
For the month of May 2023, Dublin received $42,989.18, compared to $47,093.51 in May 2022.
(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.)
Hegar recently said state sales tax revenue totaled $3.92 billion in June, 6.8% more than in June 2022. The majority of June sales tax revenue is based on sales made in May and remitted to the agency in June.
“The overall rate of sales tax revenue growth was in line with the rate of growth over the last three months,” Hegar said. “Growth in receipts from sectors principally driven by business spending continued to outpace that from consumer-oriented retail trade.
“Receipts from the oil and gas mining sector once again showed the largest year-over-year gain among all major sectors, increasing approximately one-third over remittances from June 2022. Nonetheless, this increase representsaslowingof therate of increase from that sector in recent months. Receipts from the manufacturing sector were up solidly from a year ago, but receipts from the construction industry came in only slightly higher than June 2022, and receipts from the wholesale trade sector were down slightly from a year ago, as building materials prices have come down from year-ago levels.
“Receipts from the services sector were up strongly, driven by higher consumer spending at concerts and other live performances, sporting events and theme parks. Restaurant receipts also increased, but at a rate about 1% less than the May inflation rate for food away from home.