Texas Comptroller Glenn Hegar today said state sales tax revenue totaled $3.93 billion in December, 10.5% more than in December 2021.
Lampasas rebate was +6.6% over last year [see row 585]
With housing crashing and rates staying high, expect sales tax receipts to slow even further this year. Last January, we saw a 17% increase YOY. I would be very surprised if we saw an increase like that again this year. I would expect single-digit increases and some surprise decreases in 2023.
Then again, we have a new Director to direct our economic development, so I guess we’ll see sales tax receipts go through the roof now!