COVID-19 pandemic affects local economy
Published 12:08 am Saturday, October 10, 2020
Across the state, taxing districts are feeling the impact of the pandemic as cities, counties, transit systems and special purpose taxing districts receive $751.5 million in local sales tax allocations for October, 2.8 percent less than in October 2019. These allocations are based on sales made in August by businesses that report tax monthly.
For the net payment for this period, only two cities saw an increase, Orange at 3.68 percent and Pine Forest at 23.53 percent.
Rose City is the only entity which saw a decrease in year to date payments at 26.54 percent less than last year when comparing $198,062.45 in 2019 and $145,480.27 in 2020. The city also had the largest decrease in payments for this period at 54.26 percent less for this month when comparing $9,558.02 in October 2020 to $20,900.18 in October 2019.
City of Orange is also ahead on year to date (YTD) payments received by 9.08 percent when comparing $4,248,539.44 in YTD in 2019 to $4,634,625.83 YTD in 2020. A difference of $386,086.39
Bridge City saw the smallest decrease with the October payment for this period at a 2.17 percent decrease when comparing $128,493.05 in 2019 to $125,699.68 in 2020, a difference of $2,793.37.
Orange County received 13.21 percent less this month when comparing $450,608.12 in 2019 to $391,058.49 in 2020. Year to date, the county saw an increase of 5.75 percent in sales tax revenue.