City sees another big gain in sales tax rebate revenues

May 18—Royse City continues to report significant increases in collections of sales tax rebate revenue, both for this month and for the fiscal year so far, as of April.

The figures released May 10 reflect the portion of sales taxes collected at local businesses in March, which were reported to the Texas Comptroller's office in April.

It was a pattern seen statewide.

Texas Comptroller Glenn Hegar said state sales tax revenue totaled $4.09 billion in April, 6.7 percent more than in April 2022.

"April sales tax revenue growth, moderately in excess of general price inflation, suggests economic expansion continues in spite of higher interest rates and fears of a recession," Hegar said. "The strongest growth continues to be from sectors primarily driven by business spending."

Royse City was to receive a sales tax payment of almost $722,000 this month, representing an 6.04% increase from the $680,000 collected in May 2022.

For the fiscal year so far, Royse City has taken in sales tax rebate revenue of more than $3.22 million, a 12.53% increase from the $2.86 million collected through May 2022.

Sales taxes are one of the two main sources of revenue, along with property taxes, which feed a city's general fund.