The City of New Braunfels has announced an overall increase of approximately $915,000 or 29.1% in sales taxes received in November (for the month of September) compared to the same month last year. When the various adjustments to the monthly payment are removed, net September sales tax collections increased by approximately 19.9%.
“With the release of the September figures, total sales taxes collections in FY 2021 increased by 20.9%,” said Assistant City Manager Jared Werner. “The September figures are consistent with the heightened level of growth that we have experienced for much of FY 2021. As indicated in previous monthly reports, factors such as increased demand and CPI pressures across various goods and services have played a role in the elevated growth of this revenue source. When looking at the detailed September data, industries such as full-service restaurants, professional services, manufacturing, and general services experienced the highest levels of growth. Moving into FY 2022, the City will continue to focus on analyzing sales tax trends to determine whether the increased demand and other factors impacting this revenue source will continue on their current trajectory or prove to be transitory in nature.”