|City’s sales tax rebates hit record levels|
|Bruce Alsobrook | News-Telegram Editor|
Jan 5, 2007 - Sales tax rebates for the city of Sulphur Springs in 2006 took a strong upturn, rising 9.15 percent from the previous year and setting a record for sales tax collections.
It was also the biggest one year jump in total collections — $345,757.13 — ever recorded without a change in the sales tax rate, and the largest increase since 2003-2004, when the amount rose $297,516.
For the year, the city raked in $4.27 million in sales tax rebates, up from $3.78 million in 2005, the previous record.
The figures are indicative of a continued economic expansion in the area. Sales tax collections saw year-to-year decreases in 2001 and 2002 but has climbed each year since.
It is also a reversal of a downturn earlier in the decade.
After overall sales reached $775 million in 2001, the totals dropped to $648 million and $669 million in subsequent years. In 2004, the numbers rebounded to $845 million before eclipsing the $1 billion mark in 2005.
While final figures for production have not been tallied for all of 2006, the state comptroller's estimate of $522 million in sales in all industries in the county for the first six months of last year was some $20 million ahead of the first half of 2005.
Similarly, Hopkins County's coffers were enrichened last year to the tune of $1.53 million in sales taxes, up 10.44 percent from 2005.
Cumby, which has seen big hikes in sales tax collections since the town approved the sale of alcohol in November of 2003, reported a gain of 43.48 percent last year, bringing in a total of $125,890.65 in sales taxes. Prior to 2003, the most the city had ever collected was $35,566 in the year 2001.
Como's rebates last year fell 25.57 percent to $22,044.60, but it was still the second-highest amount the town has ever collected.
Many other area cities reported gains in sales tax collections last year, as well.
Greenville pulled in $5.37 million in 2006, up 4.87 percent.
In Mount Vernon, the rebates totaled $569,724, up 16.11 percent.
Mount Pleasant's sales tax collections rose 13.72 percent to $4.4 million.
Winnsboro's rebates rose 27.09 percent to $753,735 for the year.
In Paris, sales taxes rose 7.66 percent to $6.6 million.