El Campo’s economy continues to show gains headed into the Christmas Holiday power shopping months.
“We’re very pleased the sales tax revenue has continued the upward trend,” City Development of El Campo Executive Director Carolyn Gibson said. “Everyone should have received your property tax statements for 2019. Take a look at your statement, it will state an amount you saved on property taxes because of sales tax.”
The state comptroller’s office sent the city a check for $369,449.37 this month, El Campo’s 1.5 percent cut of the 8.25 percent tax paid on most items. The check is up 5.82 percent from the $349,112.40 delivered in November 2018. This month’s check is based on purchases made in September.
Gibson and El Campo City Manager Courtney Sladek attribute the ongoing success of the Shop LOCAL! campaign to rising sales tax revenues.
“Remember, those dollars spent with local businesses are circulated throughout the community in a myriad of ways. They support the Boys & Girls Club, Rotary, FFA, Scouts and dozens more organizations. Those dollars buy the dinner tickets for fundraisers and tables for Every Day Heroes and other events. We must continue to shop local because it allows El Campo businesses to support the heart that makes El Campo so very special,” Gibson said.
For the calendar year, sales tax rebates are up 9.95 percent, contributing more than $4.1 million into El Campo’s budget this year, up almost $374,000 from 2018.
“We are very pleased with sales tax receipts, as they continue to exceed budgeted expectations. Our dependence on sales tax makes this revenue source so critical,” Sladek said.
Of the 1.5 percent rebated to El Campo, most is folded into the General Fund for operating expenditures with one-sixth re-directed to the CDC for economic development.
The El Campo economy has shown gains 27 of the last 32 months.
Throughout 2018, El Campo sales tax rebates were up about 9 percent in comparison to 11 percent in 2017. Prior to that, sales tax rebates had fallen for several years.