Richardson sees year-over-year decrease in sales tax revenue

Richardson has had a year-over-year drop in sales tax revenue, according to information on the Texas Comptroller of Public Affairs website.

The details

Per the website, Texas Comptroller Glenn Hegar, who serves as chief financial officer for the state, paid Richardson $4.9 million in sales tax revenue in November, down just over 9% from the $5.4 million in sales tax revenue reported in November 2023.

The year-to-date sales tax revenue totals $49.4 million, down 8.9% from the $54.2 million reported for the same time period last year.

Zooming out

While Richardson sales tax revenue is down, November sales tax revenue statewide is up 4.7% from last year and totaled $4.3 billion, according to a new release from Hegar’s office.

Sales tax is the largest source of funding for the state budget and makes up approximately 58% of all taxes collected in the state. Sales tax revenue for November is based on sales made in October.