Numbers Tell the Story. Texas Economy is on the Rebound
The Texas economy, which was never hit quite as hard by the recession as many other states, appears to be rebounding because people are spending more money than they were last year.
The State Controller’s office reports the state’s total sales tax revenue in January was $1.83 billion. That’s up 10.4 percent from January of last year.
The statewide total local share of the sales tax comes to almost $655 million dollars. In Angelina County, every municipality will see an increase in their local share from the same month last year.
The increases range from 2 and 3 percent in Diboll and Lufkin, to 24 and 29 percent in Hudson and Burke.
January state sales tax collections and February’s local sales tax allocations are from sales made in December.