Municipalities in Montgomery County continue to receive increased sales tax allowances from the previous year as Texas recovers from the COVID-19 pandemic. (Jishnu Nair / Community Impact Journal)
The Texas Comptroller’s Office announced more than $ 1.1 billion in statewide sales tax allocations in November as businesses in the state continue to recover from the pandemic.
Municipalities in Montgomery County mirrored this trend, with Conroe receiving more than $ 6 million and Magnolia seeing payments level off after an accounting error in the previous fiscal year. The allocations come from the sales business carried out in September.
In cumulative numbers for the year, Conroe received more than $ 46 million in sales tax revenue allowances, a 16.59% increase from 2020, state data shows. Its November allocation is a 15.24% increase from the previous November, when the city received more than $ 5.3 million.
In October, Magnolia’s payment of $ 433,591.74 was a 92.88% increase from October 2020, the largest percentage increase among municipalities in Montgomery County. In November, the city received $ 463,685.47, an increase of 22.68% from November 2020.
Magnolia officials said Community impact journal the variance results from an allowance overpayment at the start of 2020.
The two special use districts that make up The Woodlands have seen an increase, with the Township of Woodlands Economic Development Zone district receiving a 49.35% increase over its November 2020 allocation, resulting in a payment of $ 2.8 million.