Merchants in Royse City continued to keep busy during the hottest part of the summer, and the city reported another surge in sales tax rebate revenue.
But not all businesses in Texas have fared as well, and the pandemic continues to be a hindrance to the state’s economy, according to Texas Comptroller Glenn Hegar
“As was the case the last month, state sales tax receipts from all major sectors, other than retail trade, were down compared with the same month last year, with the steepest declines in the oil and gas-related sectors,” Hegar said in a report issued Oct. 1.
According to the latest update from the Comptroller’s office, Royse City was to receive $402,093.77 in sales tax rebate revenue this month, representing an increase of 27.41 percent from the $315,573 received in October 2019. For the year to date, Royse City has taken in almost $3.84 million, a rise of 24.72 percent from slightly more than $3 million collected through the same point one year earlier.
The figures represent sales taxes collected at local retailers in August and reported to the Comptroller’s office in September.
Hegar warned that the thriving retail economy appeared to have been a response to the pandemic, and not all businesses benefited.
“Pandemic-induced changes in consumer shopping behavior also were apparent in generally increased receipts from big box retailers and declines from department stores, apparel stores and other mall and strip center specialty retailers,” Hegar said. “Receipts from restaurants also remain significantly below pre-pandemic levels.”