By Brad Kellar
The City of Greenville economy is still going strong, as local businesses report surges in sales tax rebate revenue
The city’s year-to-date revenue also remains significantly ahead of the same point in 2020, according to a report issued Wednesday by the office of Texas Comptroller Glenn Hegar, who said the boost is being felt across the state.
“September state sales tax collections rebounded sharply above last year’s pandemic-depressed level while strongly surpassing pre-pandemic levels as well,” Hegar said. “Tax receipts from all major economic sectors were up by double-digit percentages from a year ago, indicating vigorous spending by both businesses and consumers. Despite continuing shortages of building materials, chemicals, semiconductors and other critical inputs due to weather and pandemic-induced supply chain disruptions, receipts from the construction, manufacturing, and wholesale trade sectors rose sharply.
Collections from the oil- and gas-mining sector almost doubled from a year ago, as drilling activity continued to rise while still remaining substantially below pre-pandemic levels.”
The figures represent sales taxes collected at Greenville businesses in August and reported to the Comptroller’s office in September.
The city was to receive $888,306.11 in sales tax rebate revenue this month, representing an increase of 22.36% from the $725,970.27 received in October 2020.
For the year to date, Greenville has taken in $8.5 million, a rise of 18.7% from the $7.16 million collected through the same point one year earlier.
Sales taxes are one of the two main sources of revenue, along with property taxes, which feed the city’s general fund.
A rededication of a percentage of the sales tax revenue goes toward the 4A economic development corporation.