Finally! Some Good News About The Local Economy – Boerne Star Article
January 16th, 2009 categories: About the Local Market, Assessing the Local Market, Real Estate Stats & Issues
Here’s an encouraging article from the Boerne Star about the local economy:
Despite economic woes, local sales tax collections show improvement
Despite concerns over a weakening national economy, sales tax collections in Boerne and Kendall County showed growth in November.
Sales tax collections for November were up 17 percent in Boerne and 14.7 percent in Kendall County. Tax revenue on November sales is collected by the state in December and then allocations were sent last week to local governments.
Boerne received $358,972 in tax revenue from November sales. Kendall County’s allocation was $167,528.
“State sales tax collections have grown 3.9 percent for the first four months of state fiscal year 2009,” said Comptroller Susan Combs. “Growth in overall collections has slowed compared to recent years, while remittances from key sectors such as construction and retail trade have declined.”
Combs sent cities, counties, transit systems and special purpose taxing districts their first sales tax allocations of 2009 �” $459.2 million, up 2.4 percent compared to January 2008.
Combs sent January sales tax allocations of $309.9 million to Texas cities, up 2.2 percent compared to January 2008. Texas counties received sales tax payments of $29 million, up 8.2 percent compared to last January.
In addition, $18.3 million went to 148 special purpose taxing districts around the state, up 23.5 percent compared to last January. Ten metropolitan transit systems received $101.9 million in sales tax allocations, down 1.4 percent compared to a year ago.
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