Royse City businesses continue to see lots of customers, as the city received another significant rise in sales tax rebate revenue this month.
The city also is reporting a huge boost in the revenue it collects for the year so far, according to a report issued by Texas State Comptroller Glenn Hegar.
Meanwhile, retail merchants across Texas are helping boost the state’s bottom line, Hegar said.
The August sales tax rebate payment represents the city's portion of sales taxes collected at local businesses in June and reported to the Comptroller's office in July.
“State sales tax collections again strongly surpassed both year-ago and pre-pandemic levels, with continued vigorous growth from non-retail sectors,” Hegar said. “The sharpest increase from a year ago was in receipts from oil and gas mining, as the higher crude oil prices of recent months support increased drilling activity, albeit still well below the pre-pandemic pace. But receipts from retail trade sectors continue to be the most highly elevated, as resurgent consumer spending following the lifting of pandemic-related restrictions and supported by increasing employment, federal income support policies and low interest rates does not appear to have begun to slow.”
Royse City reported receiving $547,542.52 in sales tax rebate revenue this month, representing an increase of 14,12% from the $467,539.04 received in August 2020.
For the year to date, the city has taken in almost $3.79 million, a 22.96% increase from the just over $3 million received through the same point in 2020.
Sales taxes are one of the two main sources of revenue, along with property taxes, which feed the city's general fund.