Daily Progress, Jacksonville, TX

Homepage

June 18, 2014

Troup's sales tax revenue for June a record

TROUP — This year is turning out to be a pretty good one for the city of Troup, which has posted one of its highest all-time sales tax checks from the State Comptroller's office.

According to tax allocation numbers released this month reflecting sales tax revenues for April, in 2014, Troup received $40,708, the second largest June payment in the city's history, said City Manager Gene Cottle.

“It means more people are shopping in Troup,” he said. The city has approximately two dozen businesses, among them a feed store, lumber yard and a grocery store, as well as, restaurants and convenience stores.

In June of 2013, the city posted its highest payment received – $41,814; the second highest came in a few months ago in February, an allotment of $41,710.46.

Cottle said several times this year allotments were higher than what was received during the same period in previous years.

“If you looked at a spreadsheet, this seems to be the trend, although it varies from month to month,” he said. “You'll have big swings, but this year, we're not seeing as big of a swing.”

All in all, this translates into welcome news for local citizens.

“It's income for both us and the Troup Community Development Corporation – everything we receive in sales tax revenue, we don't have to make up with property tax revenue. It helps us meet our budget” without putting strain on Troup taxpayers, Cottle explained.

The one-percent tax collected by the city goes back into the operating budge, while a half-percent tax assessed by TCDC it put directly into projects benefitting the city.

TCDC president Gary Salyer said the large allotment checks recently received “shows that Troup is viable and growing, and TCDC looks forward to investing even more money for the city's benefit.”

Past projects supported street re-paving programs and painting and replanting downtown flower planters, along with refurbishing of a holding tank for the city water department.

“When we're able to do that, it helps the city with their budget,” Salyer said. “And it's good for development because it improves infrastructure in the city.”

Presently, TCDC is funding a study of traffic patterns in town.

“We outlaid $46,000 for that, and are using information gathered to determine how to attract businesses to Troup,” he said.

The larger than average sales tax checks are a welcome item, Cottle said, adding, “we just appreciate the folks shopping in Troup, because it helps us all. I know our businesses are really happy about that, too."

1
Text Only