THE WOODLANDS, TX - After a stagnant month in January, The Woodlands experienced a boom in sales tax revenue in February allocations a 12.5 percent increase from February 2012.
The Woodlands' sales tax revenue increased from $4.6 million to $5.2 million year-over-year in February, according to the state comptroller's website. The nearly $600,000 increase comes after the township's sales tax revenue rose less than a percent in January allocations compared to January 2012 numbers.
Sales tax allocations from February come from sales made during the previous December while January allocations are based on November sales.
Nick Wolda, president of The Woodlands Convention and Visitors Bureau, said January sales tax revenue came in over budget despite the lack of significant growth. Wolda said it is difficult to judge sales tax revenue monthly, but the combined January and February figures provide a better picture of economic growth in the community.
For the year, allocations in The Woodlands have risen nearly 8 percent, from $7.3 million for the first two months of 2012 to $7.9 million for January and February of 2013.
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Source: impactnews.com
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