County, city see higher March sales taxes
The city of Graham will be continuing an upward stream of higher sales tax rebates from February. The city is joined by Young County, Newcastle and Olney which also will be accruing high sales tax rebates.
Since January 2019, the city of Graham has seen increases which exceeded their year-to-date budget, starting with 0.49% increase in January 2019 and continuing with a 5.72% increase in February 2019.
Texas Comptroller Glenn Hegar will send cities, counties, transit systems and special purpose taxing districts $705.3 million in local sales tax allocations in April, 8.4% more than in April 2018.
These allocations are based on sales made in February by businesses which report taxes monthly.
Graham’s rebate this month from their 1.5% rate is $175,603.89, up 5.72% compared to the $166,102.50 rebate received during the same month last year. So far this year, the city’s rebates are up 7.97%, to $796,500.60, compared to $737,705.42 received at this time last year.
For the rest of the story see the Saturday, April 13 edition of The Graham Leader.