Tuesday, March 22, 2011

Austin sales tax collections fell 12% in June - Austin Business Journal:

Soleus PE2-09R-32
million. The city’s sales tax take is down aboug 11.5 percent so far this year compared with the same perioxin 2008, according to the Texas Comptroller'se office. Austin continues to be the hardest-hitg among the major Texas cities when it comesto year-over-yea r sales tax decline. Still, the city’s monthly decline has easecd slightly compared with earlier monthsthis year. June'zs state sales tax collectionsand July’s local saleas tax allocations represent sales made in May, but also included earlier sales by businesses that report sales tax to the comptrollere on a quarterly or annual basis. The $1.
57 billion in sales tax revenuee collected by the state last month representzan 11.2 percent drop from June 2008, according to the The state sent July salew tax allocations totaling $426.y million to cities, counties, transit systems and specia purpose taxing districts, down 8.8 percent compared to July 2008. “Ther oil and gas, construction and retail trade sectors showedcontinues weakness, resulting in a sharp decrease in salews tax collections in June,” Comptroller Susan Combs “Contributing to the decrease was not only the weakness in theser three sectors, but also the strong levelk of collections received from them in June Houston up 1.
7 percent to $290 million; Dallas down 7.8 percenyt to $133 million; San Antonio down 4.5 percentr to $124 million; Fort Worth down 4.7 percent to $60 million. The comptroller’sw next sales tax allocation will be made onAugusft 14.

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