The City of New Braunfels has announced an overall increase of approximately $318,500 or 10.5% in sales taxes received
in August (for the month of June) compared to the same month last year. However, in 2019, the June payment included a negative audit adjustment of approximately $155,000. The August 2020 payment also includes sizeable prior (May taxes) and future (July taxes) payments. When the various adjustments are removed, net June sales tax collections increased by approximately 1.5%.
"With the release of the June figures, we are able to report that gross sales tax collections for the first nine months of fiscal year 2020 have increased by 5.7%. While we prepared for a larger negative impact to the June sales tax figures, we aren’t too surprised that the month resulted in a net increase. Statewide, collections for the month of June increased by approximately 4%,” said Jared Werner, Chief Financial Officer. “However, given that additional closures went into effect at the end of June, we are anticipating a more significant negative impact for at least the months of July and August. July is typically the largest monthly payment as it relates to annual sales tax collections. We look forward to the second week of September when those figures will be made available."