According to Assistant City Manager Jared Werner, total sales tax collection in fiscal year 2021-22 has increased by 9% through 10 months of the fiscal year. (Community Impact file photo)
New Braunfels city officials have announced an overall decrease in sales tax revenue received in September compared to the same month last year. The sales tax received in September for the month of July has decreased by approximately $278,978 or 6.8%.
When the various adjustments to the monthly payment are removed, net July sales tax collections were down 7.3%, according to New Braunfels officials.
“With the release of the July figures, total sales taxes collections in [fiscal year 2021-22] have increased by 9% through 10 months of the fiscal year,” Assistant City Manager Jared Werner said. “The July collections are slightly higher than anticipated given the continued impact of sales tax losses from HD Supply. When looking at some of the industry-specific performance for the July collections, general services, retail services, professional services and miscellaneous services were the categories that experienced the highest level(s) of growth. Conversely, wholesale markets and manufacturing were the categories that declined for the July collections. The July collections showed sustained growth in certain sectors that are continuing to mitigate a portion of the expected loss in the wholesale markets industry.”
Sierra joined Community Impact Newspaper as a reporter in July 2022 after graduating with a degree in journalism from Texas State University in San Marcos, Texas. She covers education, local government, transportation, business and real estate development in the New Braunfels community. Prior to CI, Sierra served as the Managing Editor of San Marcos Corridor News and spent time as a Senior Reporter for the University Star. When she is not writing, she enjoys reading and traveling.