|Cumby’s retail sales continue to climb upward|
|Kerry Craig | News-Telegram Assistant Editor|
June 17, 2005 - Cumby continues to be comfortably ranked among those cities and communities in Texas whose rate of growth in retail sales is reported in triple digits, with an increase of more than 150 percent in April. At the same time, Sulphur Springs saw a drop of slightly more than 3 percent for the same period. The town of Como saw an increase of almost 30 percent.
Sulphur Springs’ check for $276,820 was down from the $285,500 received one year ago. The most recent sales tax rebate brings the total amount received so far this year to more than $1.83 million which was only about $30,000 above the same time in 2004.
Sulphur Springs, for the first time in two years, was the only city in the area to show a drop in sales tax figures.
In Commerce an increase of 4.85 percent was reported, while Greenville and Paris both saw increases of around 4.5 percent. The monthly report also showed Winnsboro up 11 percent, Mount Vernon up 39 percent and Yantis up more than 88 percent. A large portion of the increase in Yantis was attributable to quarterly reporting.
Como also saw an increase of almost $600 over the same time last year, an increase that also might be attributed to businesses that only submit sales tax reports to the state four times per year. So far, in 2005, Como has received $13,066, an increase of more than 49 percent over the $8,759 received in 2004.
Cumby’s sales tax figures, fueled by the vote almost two years ago approving the sale of alcoholic beverages, have increased dramatically, and the rate of growth seems to show no signs of slowing.
At the end of 2002, Cumby’s retail sales totaled $3.7 million. In 2003, total retail sales in Cumby were just less than $4 millionand generated $24,000 in tax revenues for the city.
That number almost doubled in 2004 — the first full year of alcohol sales in Cumby — with retail sales reaching $7,775,046 and bringing more than $53,200 to the city.
Through the first four months of this year, retail sales in Cumby have already generated more than $38,256 in sales tax revenue.
Another factor in Cumby’s sales tax increase was an additional .25 percent added to the city’s tax rate which became effective in January. The additional tax money was earmarked by voters to be used for street repairs.
While Cumby is prominent among those cities and communities enjoying rates of growth of more than 100 percent, it trails communities such as New Fairview, located in Wise County on the northern edge of Fort Worth, with an increase of almost 750 percent. Palm Hurst, in Hildago County, posted growth of 482 percent; Weinert, in Haskell County, was up 293 percent; Melvin, in McCollough County in central Texas, posted a gain of 216 percent; and Edom, in Van Zandt County, up 173 percent.