The City of New Braunfels has announced an overall decrease of approximately $1.2 million or 30.6% in sales taxes received in May (for the month of March) compared to the same month last year. When the various adjustments to the monthly payment from the Texas Comptroller’s Office are removed, net March sales tax collections were down 3.4%.
“With the release of the March figures, total sales tax collections have decreased by 4.7% in FY 2023 (October-March),” said Assistant City Manager Jared Werner. “The March collections were impacted significantly by a negative adjustment of over $1.1 million, which was entirely driven by sales taxes that had been incorrectly provided to New Braunfels based on business-to-business transactions for equipment that was delivered at a facility that is adjacent to, but not within, the incorporated city limits of New Braunfels. The city was aware that this adjustment would be made by the Texas Comptroller’s Office in the March payment.”
“Industries that experienced growth in the month of March include food services, wholesale and miscellaneous,” Werner continued, “while retail, general services, professional services, and manufacturing experienced varying levels of decline.”
