
2 minute read
Sales tax
continued from Page #1 it lize the downtown district uildings that were vacant just a months ago are producing sales venue not only from our city, om people of other towns e sales tax dollars will continue rease and it won't be long e we hit the $40,000 mark and look back " er cited the planning and rship of Shephard and Stanley, weathered the economic turn starting in 2008, that has e city in position for great s. in 2014 Ten years later, Anna finished 2014 at $1,372,788 32
Meanwhile, Van Alstyne has shown impressive sales tax revenue growth as well They actually hit the $30,000 mark way back in 1997 and finished that year at $269,711 26 With a more moderate growth pace than Anna, they are now seeing a consistent average monthly sales tax revenue of $78,568. Van Alstyne should hit the $100,000 mark very soon and are on pace to be just shy of the $1 million mark for 2015.
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In August, the State Comptroller's Office reported that Howe had a sales tax revenue of $30,212 63 for the month That is the third time in 2015 that the city has hit the $30,000 mark which surpasses any previous year in the city's history The highest amount of revenue in 2014 was $28,992 in May, the first full month of Abby's Restaurant
The highest amount of sales tax revenue for any month in the city's history happened in February of this year when the total came to $37,375 39 The previous high took place in Dec. 2007, just before the great recession. The $33,322.06 amount of Dec. 2007 was the most the city had ever seen at that time and was the only time it would hit the $30,000 mark in a month until this past February
The City of Howe hired their first part-time Economic Development Director last October in Monte Walker He is set to go full-time as President of the EDC starting in October
"This has been the perfect storm so far early in the game for the growth of Howe " said Walker "I think the surge in sales tax revenue is a direct result of our efforts to
As being the furthest city away from Dallas on US 75 not named Sherman or Denison, one would expect for Howe to have the least amount of sales tax revenue from any city on that corridor and that is the case Van Alsytne, Anna and Melissa are going through the belt-busting expansion right now and have seen dramatic sales tax revenue increases over the past several years
Anna hit the $30,000 mark for the first time in 2004 and hit the $40,000 mark for the first time the following year In 2004, Anna's total for that year was $250,475.88. That compares to Howe's $274,525.39
Howe is on pace to reach $300,000 in sales tax revenue in 2015 That would be the first time and also show a growth in overall revenue by over $30,000 from 2014 With at least one more restaurant slated to be opening before the year is over, the number should keep improving
As you drive down Denny Street and pass by the new mural outside of the home of the Howe Development Alliance, you will notice a phrase painted on the wall It says "Shop Local " The city has made an investment in local commerce. A grocery store would be the city's best friend.
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