Texas Sales-Tax Revenue Rose 5.8% in February, Comptroller SaysDarrell Preston
Texas’s February sales-tax collections rose 5.8 percent compared with the same month last year, marking the 47th consecutive monthly increase, Texas Comptroller Susan Combs said in a statement yesterday.
Revenue was $2.2 billion as collections increased from all major areas of the economy, said Combs. Sales taxes account for about a fourth of revenue.
Texas collected an additional $553 million in sales taxes on behalf of localities and taxing districts, according to the statement. That’s up 4.1 percent from a year earlier.
Texas municipal bonds have gained 3.22 percent this year, compared with 3.4 percent for the broad market, according to data compiled by Standard & Poor’s. In the past year, the state gained 0.18 percent, compared with a 0.27 percent decline for the broad market.