Texas Comptroller Glenn Hegar today said state sales tax revenue totaled $3.92 billion in June, 6.8 percent more than in June 2022. The majority of June sales tax revenue is based on sales made in May and remitted to the agency in June.
In Terry County, the City of B downfield brought in $130,442.16 which is 5.68% more than June 2022, which was $123,422.22. Also for the year-to-date, Brownfield has brought in $806,118.38, a 6.52% increase from $756,760.41. Terry County had a great improvement from last month and from June 2022 bringing in $63,451.98 which was a 22.21% increase. For the year-to-date, Terry County is up 17.59% from $318,010.23 to $373,963.21.
In the smaller cities in Terry County, the City of Meadow had a significant loss compared to June 2022, being down by -17.59% bringing in $1,498.84 compared to $1,818.82 in June 2022. For the year-to-date comparison, the City of Meadow is still up by 16.82% bringing in $10,811.20 compared to $9,254.18. The City of Wellman had a huge surge for June 2023 being up 55.54% and bringing in $603.97 compared to June 2022 bringing in $388.29. This has helped Wellman in the year-to-date comparison which is up 28.80% bringing in $3,895.33 compared to $3,024.31.
“The overall rate of sales tax revenue growth was in line with the rate of growth over the last three months,” Hegar said. “Growth in receipts from sectors principally driven by business spending continued to outpace that from consumer-oriented retail trade.
Receipts from the oil and gas mining sector once again showed the largest year-over-year gain among all major sectors, increasing approximately one-third over remittances from June 2022. Nonetheless, this increase represents a slowing of the rate of increase from that sector in recent months. Receipts from the manufacturing sector were up solidly from a year ago, but receipts from the construction industry came in only slightly higher than June 2022, and receipts from the wholesale trade sector were down slightly from a year ago, as building materials prices have come down from year-ago levels.
“Receipts from the services sector were up strongly, driven by higher consumer spending at concerts and other live performances, sporting events and theme parks. Restaurant receipts also increased, but at a rate about 1 percent less than the May inflation rate for food away from home.
“Remittances from the retail trade sector just barely surpassed year-ago levels after dipping below the prior year last month, with large gains from online general merchandisers countered by declines from major store-based general merchandisers and department stores.
“Remittances from furniture and home furnishings stores were down compared with year-ago levels for the fourth consecutive month. Receipts from the home improvement, clothing and accessory stores, electronics and appliance stores, and sporting goods and hobby stores sectors were also negative compared with June 2022.”
Total sales tax revenue for the three months ending in June 2023 was up 5.9 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 — $597 million, up 2 percent from June 2022;
- motor fuel taxes — $324 million, up less than 1 percent from June 2022;
- oil production tax — $456 million, down 33 percent from June 2022;
- natural gas production tax — $184 million, down 58 percent from June 2022;
- hotel occupancy tax — $71 million, up 6 percent from June 2022; and
- alcoholic beverage taxes — $156 million, up 4 percent from June 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.
