The city received a net payment of $4,117,696.83 in September for the month of July.
This pattern of significantly increased sales tax revenue is in line with the pattern over the earlier part of the summer, as the June sales taxes received by the city in August were 22.2%—or about $762,000—with about $4.1 million total.
Compared to this point year-to-date last year, sales taxes revenues in New Braunfels are up 20.38%, totaling over $31.1 million. The city collected just under $26 million at this point in 2020.
“Given the impact from the tourism and service sectors, July is typically one of the largest monthly collections throughout the year,” said Jared Werner, chief financial officer for New Braunfels.
“The elevated level of growth was driven by impressive performance across a number of industries, such as full-service restaurants, department stores, professional services, and manufacturing,” Werner said. “Similar to the June collections, the general services category experienced a very high level of growth in July, approximately 85% in comparison to July 2020. This category includes most tourism and leisure focused businesses, which was one of the sub-industries most impacted by the pandemic.”
Across the state of Texas, the Texas Comptroller’s Office reports that total net payments in July were 20.3% higher year over year—or an increase of more than $100.5 million—at $595.7 million for sales taxes collected for the month.
