City, county accruing higher sales taxes in January

The city of Graham will be accruing higher sales tax rebates from January, continuing an increase in sales tax rebates which began in January 2018. The city is joined by Young County, Newcastle and Olney which also will be accruing high sales tax rebates.

It should be noted sales taxes do not make up the bulk of city or county revenues.

Since January 2018, the city of Graham has seen increases which exceeded their year-to-date budget starting with .49 percent increase in January 2018 and continuing with a 13.24 percent increase in January 2019.

Texas Comptroller Glenn Hegar will send cities, counties, transit systems and special purpose taxing districts $711.7 million in local sales tax allocations in March, 6.1 percent more than in March 2018.

These allocations are based on sales made in January by businesses which report taxes monthly.

Graham’s rebate this month from their 1.5 percent rate is $184,676.69, up 13.24 percent compared to the $163,071.51 rebate received during the same month last year.

For the rest of the story see the Saturday, March 9 edition of The Graham Leader.