The
city of New Braunfels announced an overall decrease of approximately $429,766, or 10.6%, in sales taxes received in November for September compared to the same month in 2021.
“With the release of the September figures, total sales taxes collections increased by 6.1% in FY 2022 (for the full fiscal year),” Assistant City Manager Jared Werner said in a statement. “The September collections were somewhat impacted by a future period payment made last fiscal year. This is why there is a larger than usual percentage variance between total and current collections. When looking at some of the industry-specific performance for the September collections, professional services, miscellaneous services, and manufacturing were the sectors that experienced the highest level(s) of growth.”
According to the city, when the various adjustments to the monthly payment were removed, net September sales tax collections were down 6.1%.
“The positive growth trend in those industries for the month of September helped to mitigate declines in other industries such as wholesale markets, retail services, and general services,” Werner said. “As mentioned in previous sales tax releases, growth in other industries have continued to offset a portion of anticipated losses within the wholesale market category.”