Area cities show good economic growth

By BRENDA ALLUMSnews1@kilgorenewsherald.com

The city of Kilgore recently received a check for just over $699,500 for its sales tax allocations for the month of July.

July state sales tax collections and August rebates to local governments mostly represent sales that occurred in June.

Texas Comptroller Carole Keeton Strayhorn today said the state received $1.29 billion in sales tax revenue in July, up 8.9 percent compared to the same month last year.

Kilgore’s $699,560 is up 24.18 percent from the same period last year when the city received $563,337. Year-to-date, the city’s sales tax receipts are up 28.7 percent in sales tax revenue with a total of $4.492 million. During the same time period last year, the city received $3.490 million.

“We’ve received sales tax rebates in excess of what we expected for the time period,” said City Manager Jeff Howell. “We budgeted $2.7 million for the year and by May had received $2.8 million.”

“This allows us to work on special projects -- things we’ve deferred during times of lessor economic conditions.”

Howell said, “With the current oil economy and the price of oil per barrel traded on the market today, I see that trend continuing. I think the economy in Kilgore is good for some time.”

Longview is also reflecting a positive economic picture. For this period, the city received $2.2 million up 5.45 percent from the same reporting period last year.

Year-to-date, Longview is up 8.86 percent from last year, having received $14.9 million in tax rebates over last year’s $13.7 million.

Gladewater is also experiencing a positive economy. The city is up just over sewven percent from this same reporting period last year. This month Gladewater received $84,691 over last year’s $79,138. Year-to-date the city is up 10.99 percent to $527,151 from last year’s $474,939.

Tax rebate allocations in Henderson are also up this reporting period. The city received $353,898, up 20.28 percent form the same period last year when it received $294,172. Year to date the city has received 11.72 percent more than last year. This year so far Henderson, where the tax rate is two percent, has received $2.1 million, over last year’s $1.9 million.

Overton is also recording an upswing in tax allocations, receiving $22,930 for this report period. This reflects a 3.4 increase over last year’s figure of $22,175. Year-to-date the city has received $137,617, up 5.71 percent from last year’s $130,183.

Strayhorn delivered $344.5 million in August sales tax allocations to cities, counties and other local taxing entities, up 9.2 percent compared to last July. So far this calendar year, sales tax allocations to local governments are running 7.1 percent higher than last year.

Strayhorn sent August sales tax allocations of $232.8 million to Texas cities, up 8.7 percent from last August. Calendar year-to-date, city sales tax allocations are up 7.3 percent compared to the same period last year. Texas counties received sales tax payments of $20.7 million, up 9.7 percent compared to last August. Calendar year-to-date, county sales tax allocations are 9.7 percent higher than last year.

Ninety-seven special purpose taxing districts around the state received August sales tax allocations totaling $9.8 million, up 13.5 percent compared to last August. Ten local transit systems received $81.1 million in sales tax allocations, up 9.8 percent compared to a year ago.