Sales tax rebates sink
Layoffs and a sluggish economy are beginning to show in sales tax rebates. The State Comptroller’s office showed rebates for January, which reflects sales in November, showed drops of 20 percent or more.
Rebate for the Cit y of Rockdale was $49,507, down 21 percent compared to last January. City of Cameron showed a similar drop. Only area town showing a signifi- cant increase was Caldwell, which was rebated 15 percent more than January 2009.
Rebates for the Milam County fell 19 percent and the hospital district’s rebate was down 54 percent, after it went from a full penny to half-acent collections last year.
Sales ta x collections for the Municipal Development District, created last year by voters, begin this month and that entity should begin to see revenue with March rebates.
Milam’s sales drop mirrored that of the state. The Comptroller’s office reported an 11.8-percent decline in rebate amounts statewide.
“Declining sales tax collections, beginning in February 2009, have now extended through December,” Comptroller Susan Combs said. “As has been seen the past several months, collections are down across most major sectors, including oil and natural gas, construction, manufacturing and retail trade. It is expected the double-digit declines in tax collections seen over the last half year will moderate with collections returning to growth during the first or second quarter of 2010.”
Next Comptroller’s report will be made Feb. 13.
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