Lubbock’s sales tax revenue received in February is nearly the same as the amount Comptroller Glenn Hegar’s office sent in February 2020. The allocation of $8,588,370.57 is down 0.11 percent compared to a year ago.
This month’s payment is for sales made in December at businesses that report tax monthly, sales made in October, November and December at businesses that report quarterly, and sales for the entire year at businesses that report annually.
Year-to-date, Lubbock’s revenue of $14,576,119.46 is down 0.97 percent compared to the first two payments received last year.
Lubbock County’s payment received of $3,071,618.98 is up 2.36 percent compared to a year ago. Year-to-date revenue of $5,234,665.21 is an increase of 1.7 percent compared to 2020.
Statewide, $1.05 billion will be distributed to local governments, an increase of 0.7 percent over 2020.
Facing the one-two punch of the pandemic and energy price declines, the Permian Basin saw several months last year with revenue down 20 to 30 percent over the year prior. That is not the case with this report. Midland’s monthly allocation of $6.1 million is down 4.32 percent compared to 2020. Year-to-date, Midland’s revenue is off 14.63 percent from 2020. Odessa’s monthly payment is up nearly 10 percent over last year. Year-to-date revenue in Odessa is down 10.13 percent.