In a recent news release, the San Marcos Herald reported “more good sales tax news.” In the report, State Comptroller Susan Combs states that “Monthly sales tax revenue has now increased for 17 consecutive months.” This means good news for local communities. When other communities are still screaming for more revenue, a number of Texas towns are experiencing “…increased business spending during the year” as well as growth in restaurant and retail sectors.
According to the report, “sales tax revenue was also up by 11.9 percent compared to August a year ago” and “sales tax allocation figures… were up 10 percent compared to September 2010.” The allocations for September to local communities reflect July 2011 sales tax income.
Texas state sales tax is currently 6.25% (.0625). Total combined taxes with local jurisdictions cannot exceed 8.25%. Local taxing districts include county, city, transit and special purpose districts. For more details on what each jurisdiction is allowed for sales tax, check out the taxrates.com Texas page.
