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Home News-Telegram News Retail sales in city on pace to rise $8 million in 2009

Retail sales in city on pace to rise $8 million in 2009

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Retail sales in the city of Sulphur Springs are on pace to increase about $8 million this year compared to 2008, according to the latest sales tax data released by the state comptroller’s office.

This month’s sales tax check to the city totaled $332,569.61, based on the 1.5 percent levy on taxable goods sold inside the city limits. The city receives a 1 percent sales tax, while the other 1/2 percent goes to the Sulphur Springs-Hopkins County Economic Development Corporation.

This month’s tax rebates include local sales tax collected in April and reported to the State Comptroller by businesses filing monthly tax returns in May.

The June sales tax rebate reflects a 4.46 percent increase from the number reported in June of 2008. It was the 13th straight month that the city has seen sales tax collections increase compared to the same month the previous years.

It also helped push the year-to-date sales tax collections for the city to $2.25 million, or a 5.53 percent increase from the first six months of 2008. If those percentages remain consistent through the end of 2009, this year’s sales of taxable goods in the city should total about $150 million, up from $52 million in 2008, according to data from the comptroller’s office.

That equates to a per capita increase in sales of just under $520 in the city — not bad for a small town in a nation battling economic recession.

Both the towns of Como and Cumby also continue to see increases in sales tax rebates this year.

In Como, the June check of $,1610.38 was up 4.67 percent from June of 2008, and the total for the first six months of the year is at $11,075.61, up at 24.87 percent from one year ago.

In Cumby, sales tax rebates for the month of June came in at $12,352.34, which is actually down 11.68 percent from the same month in 2008. For the first half of the year, however, Cumby’s retail sales collections are up 6.24 percent.

Hopkins County’s treasury did not fare as well, as the sales tax check this month of $124,730.70 was actually down 1.15 percent from June of 2008. Through the first six months of 2009, however, the county’s sales tax total is $808,553.49, up 5.47 percent from the same point in 2008.

Sales tax totals from nearby counties show winners and losers alike this month.

In the winners’ bracket were Franklin County, where the monty collection was up 7.56 and year-to-date shows a 2.64 percent increase; and Lamar County, up 6.51 percent this month and 21.33 percent for the year.

In the losers’ category was Rains County, where the June sales tax rebate was down 11.85 and the year-to-date collections are down 4.71 percent.

Hunt County had a little of both — this month’s rebates are down 1.04 percent, while the six-month total is up 0.45 percent from 2008 — as did Titus County, where the June total shows a 10.19 percent decline but yearlong collections are up 11.2 percent. Ditto for Wood County, with sales tax rebates increasing 4.1 percent this month but down overall for the first six months by 3.31 percent.

 

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