Texas Comptroller Glenn Hegar released the state sales tax revenue for March 2023 which totaled $3.57 billion and is 5.9 percent more than in March 2022. The majority of March sales tax revenue is based on sales made in February and remitted to the agency in March.
Locally in Brownfield, the city brought in $109,638.76 in sales tax revenue which was up 9.46% from $100,154.21 a year ago. The total year-to-date is up 8.61% which is $393,654.96 from $362,419.96.
The City of Meadow had a huge change in sales tax revenue by bringing in $2,046.03, which is up by 57.38% from $1,300.00. Total year-to-date for Meadow is up 26.85% which is $5,908.75 from $4,657.76.
Wellman didn’t fare as well as the city brought in $416.11 and down 3.27% from $430.21. However, for the year-to-date revenue, Wellman is up 13.94% which is $1,784.44 from $1,566.02.
Terry County sales tax revenue continues to rise in the month of March bringing in 13.65% more which is $50,053.18 from $44,038.62. The year-to-date sales tax revenue for Terry County is up 27.04% from $155,538.53 to $197,599.52
Hegar said, “In line with our biennial revenue forecast, state sales tax collections resumed the recent trend of significant but slowing growth, with the gain compared with the previous year being the lowest since the end of pandemic restrictions two years ago,”
Hegar went on to say, “Growth in tax receipts was evident across all major sectors, with the exception of retail trade, as consumers reallocate budgets away from goods in favor of services as inflation continues to impact shoppers.
“Receipts from the oil and gas mining sector led the way for all sectors, showing nearly a 50 percent gain for the third straight month. Remittances from the construction sector were up by double digits compared with last March, and receipts from the wholesale trade sector showed gains compared with a year ago, indicating business spending is still very strong in the state.
“Remittances from the retail trade sector were negative compared with the same month the previous year for the first time since April 2022. Within the sector, general merchandise receipts were down the most compared with last year. Remittances from the sale of building materials declined for the third consecutive month, as the pace of home improvements and remodeling projects that saw enormous increases at the height of the pandemic decidedly slowed. Receipts from clothing and accessory stores were down moderately.
“Restaurant receipts were up considerably for the second month in a row compared with a year ago, outpacing the inflation rate for food away from home by nearly 50 percent.”
Total sales tax revenue for the three months ending in March 2023 was up 8.7 percent compared with the same period a year ago. Sales tax is the largest source of state funding for the state budget, accounting for 56 percent of all tax collections.
Texas collected the following revenue from other major taxes:
- motor vehicle sales and rental taxes — $432 million, up 12 percent from March 2022;
- motor fuel taxes — $287 million, up 4 percent from March 2022;
- oil production tax — $427 million, down 10 percent from March 2022;
- natural gas production tax — $267 million, down 23 percent from March 2022;
- hotel occupancy tax — $61 million, up 21 percent from March 2022; and
- alcoholic beverage taxes — $138 million, up 11 percent from March 2022.
For details on all monthly collections, visit the Comptroller’s Monthly State Revenue Watch. For an extensive history of tax policy developments and fees since 1972, visit our updated Sources of Revenue publication.
