Texas Comptroller Glenn Hegar announced the state sales tax revenue for November 2024 on Monday, December 2, 2024. The total revenue reached $4.3 billion, which represents a 4.7% increase compared to November 2023. Most of the November sales tax revenue is derived from sales made in October and remitted to the agency in November.
Unlike the state as a whole, the four entities in Terry County that receive sales tax allocations did not experience an increase compared to last year, with the exception of the City of Wellman. The City of Brownfield reported sales tax revenue of $173,677.30, which is a decrease of 7.65% from last November’s revenue of $188,068.05. Despite this year-over-year decline, the year-to-date figures show an increase of 8.23%, rising from $1,571,580.83 to $1,701,078.14.
In contrast, Terry County experienced a drop of 2.06%, with sales tax revenue declining from $86,663.12 to $84,899.24 compared to this time last year. Additionally, its year-to-date revenue has decreased by 4.25%, falling from $778,296.75 to $745,188.10.
In November 2024, the City of Meadow generated $2,096.04 in sales tax revenue, reflecting a decline of 8.98% from $2,302.99 the previous year. The year-to-date figures for Meadow also show a significant drop, down 75.50% from $94,636.91 to $23,184.57.
In contrast, the City of Wellman was the only municipality to see an increase in sales tax revenue for November 2024, rising by 1.55% from $734.46 to $745.85. Wellman’s year-to-date revenue has surged by 143.22%, increasing from $7,564.14 to $18,398.18.
Hegar stated, “After the increase observed in October, state sales tax collections continued to grow strongly in November, with revenues from nearly all major sectors rising compared to last year.” According to Hegar, receipts from most sectors, primarily driven by business spending, saw an increase, particularly in the manufacturing and wholesale trade sectors, which experienced significant gains in November 2023. Collections from the construction sector also improved compared to the previous year. However, receipts from the mining sector declined for the eighth consecutive month.
Sales tax receipts from sectors primarily driven by consumer spending have increased, with collections from both the retail trade and services sectors surpassing those from November of last year. Within the retail trade sector, receipts from online shopping and general merchandise stores saw significant growth compared to November 2023. While receipts from restaurants also rose year-over-year, they fell slightly behind the rate of inflation for food consumed away from home in October.r ago but were slightly below the rate of inflation for food away from home for October.
Total sales tax revenue for the three months ending in November 2024 was up 3.9% compared with the same period a year ago. Sales tax is the largest source of state funding for the state budget, accounting for 58% of all tax collections.
Texas collected the following revenue from other major taxes:
- motor vehicle sales and rental taxes — $586 million, up 4% from November 2023;
- motor fuel taxes — $345 million, up 6% from November 2023;
- oil production tax — $488 million, down 15% from November 2023;
- natural gas production tax — $157 million, down 26% from November 2023;
- hotel occupancy tax — $75 million, up 2% from November 2023; and
- alcoholic beverage taxes — $158 million, up 4% from November 2023.
