City, County see higher sales tax rebates for March

The city of Graham and Young County will be accruing higher sales tax rebates from March. Newcastle and Olney will have lower sales tax rebates for March, but higher year-to-date payments overall.

Since 2018, the city of Graham has seen increases which exceeded their year-to-date budget, starting with 0.49% increase in January 2018 and continuing with a 2.53% increase in March 2019.

Texas Comptroller Glenn Hegar will send cities, counties, transit systems and special purpose taxing districts $867.7 million in local sales tax allocations in May, 0.7% more than in May 2018.
These allocations are based on sales made in March by businesses which report taxes monthly.

Graham’s rebate this month from their 1.5% rate is $240,135.32, up 2.53% compared to the $234,193.99 rebate received during the same month last year. So far this year, the city’s rebates are up 6.66%, to $1,036,635.92, compared to $971,899.41 received at this time last year.

Olney’s rebate this month from their 1.5% rate was down 1.46% to $31,647.45, compared to the $32,118.81 received during the same month last year. So far this year, Olney’s rebates are up 4.79%, to $136,389.64, compared to $130,154.83 received at this time last year.

For the rest of the story see the Saturday, May 11 edition of The Graham Leader.