The City of New Braunfels has announced an overall decrease of approximately $278,978 or 6.8% in sales taxes received in September (for the month of July) compared to the same month last year...
The City of New Braunfels has announced an overall decrease of approximately $278,978 or 6.8% in sales taxes received in September (for the month of July) compared to the same month last year. When the various adjustments to the monthly payment are removed, net July sales tax collections were down 7.3%.
“With the release of the July figures, total sales taxes collections in FY 2022 have increased by 9.0% through ten months of the fiscal year,” said Assistant City Manager Jared Werner. “The July collections are slightly higher than anticipated given the continued impact of sales tax losses from HD Supply. When looking at some of the industry-specific performance for the July collections, General Services, Retail Services, Professional Services, and Miscellaneous Services were the categories that experienced the highest level(s) of growth. Conversely, Wholesale Markets and Manufacturing were the categories that declined for the July collections. The July collections showed sustained growth in certain sectors that are continuing to mitigate a portion of the expected loss in the wholesale markets industry.”