Young County, area cities accrue higher sales taxes
Young County and the city of Graham, Olney and Newcastle will be accruing higher sales tax rebates from April and 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 17.17% increase in April 2019.
Texas Comptroller Glenn Hegar will send cities, counties, transit systems and special purpose taxing districts $782.1 million in local sales tax allocations in June, 10.1% more than in June 2018.
These allocations are based on sales made in April by businesses which report taxes monthly.
Graham’s rebate this month from their 1.5% rate is $203,091.32, up 17.17% compared to the $173,318.73 rebate received during the same month last year. So far this year, the city’s rebates are up 8.25%, to $1,239,727.24, compared to $1,145,218.14 received at this time last year.
It should be noted, sales taxes do not make up the bulk of city or county revenues.
For the rest of the story, see the Saturday, June 15 edition of The Graham Leader.