Sales tax revenue

The city of Royse City continues to reap the benefits of a hectic September of shopping, although the across the state is still suffering from the impact of COVID-19.

The city of Royse City continues to reap the benefits of a hectic September of shopping, although the across the state is still suffering from the impact of COVID-19.

In a report issued Nov. 2, Texas Comptroller Glenn Hegar said state sales tax revenue totaled $2.72 billion in October, 3.5 percent less than in October 2019.

“October sales tax collections from all major economic sectors declined significantly from year-ago levels, with the exception of collections from retail trade,” Hegar said, whose monthly report was issued Nov. 14.

The comptroller’s office announced Royse City would receive $468,797.65 in sales tax rebate revenue this month, representing an increase of 22.77 percent from the $381,823.28 received during November of last year.

The figures represent sales taxes collected at local retailers in September and reported to the Comptroller’s office in October.

So far this fiscal year, the city has taken in $4.3 million in sales tax rebate revenue, an increase of 24.51 percent from the $3.46 million received through the same point one year ago.

Sales taxes are one of two main sources of revenue that feed the city’s general fund, with the other being property taxes.

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