Published: March 21, 2008 10:18 am         

Mexia continues to stack up $$$ from tax rebates

The City of Mexia continues to pile up some big bucks, thanks to sales tax rebates which pour into city coffers from the office of Texas Comptroller Susan Combs. The latest check from the state, for Mexia, amounts to $198,865.43, a sizable jump from last year at this time when the check was for $179,304.70.

Mexia’s “so-far” total for the third check this year shows $686,718.51, an increase for year-to-date over Year 2007 when the total was $659,535.45.

The Mexia Economic Development Corporation (EDC) shares in the bounty, recipient of one-fourth of the totals. This allows the EDC leeway in helping current businesses to expand, while going after new businesses and industries.

The sales tax rebates also helps the city to “stay on track” for its ongoing programs to update Mexia’s infrastructure.

Elsewhere in Limestone County, Groesbeck also shows increases in both major tax rebate categories - Current check is $42,024.03, up from $35,966.48 one year ago; year-to-date totals $148,899.02, an increase from last year’s $134,111.97.

Coolidge’s check is for $818.62, up from $732.61 last year; and the accumulative total is $5,093.29, an increase from 2007’s total of $4,185.27.

Kosse substantially increases in both rebate categories - $4,214.99, up from last March’s check of $3,019.96, representing a 39.57 percent increase; and a whopping 91.41 percent increase on the year-to-date figures - $14,088.54 from $7,360.27 in ‘07.

Thornton shows drops in both categories - $877.21 from last year’s $1,270.68, and in the accumulative totals of $3,462.74, a dip from last year’s $3,918.86.

The Texas Comptroller, in reporting continued growth in state and local sales tax revenues, announced this revenue in February totaled $1.79 billion, up 8.8 percent, compared to February in ‘07. “For the first half of fiscal 2008, state sales tax collections are up 7.1 percent over fiscal 2007,” Combs said. “Although growth is slower than the two previous fiscal years, increases in state sales tax revenues continue at a steady pace.”

State sales tax revenue for February and March payments made to local governments primarily represent sales that occurred in January.

Comptroller Combs delivered $436.1 million in March sales tax payments to Texas cities, counties, transit systems and special-purpose taxing districts, a 9.9 percent increase compared with March of 2007. So far this calendar year, local sales tax allocations are up 7.1 percent compared to the first three months of 2007.

Combs sent March sales tax payments of $293.2 million to Texas cities, up 9.2 percent compared to March, 2007. Calendar year-to-date, city sales tax allocations are running 6.8 percent higher than last year. Texas counties received sales tax payments of $26.8 million, up 10.5 percent compared to one year ago. Calendar year-to-date, county sales tax allocations are 7.2 percent higher than last year.