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Posted on: November 17, 2020

Sales Tax Received for September

The City of New Braunfels has announced an overall increase of approximately $310,600 or 11.0% in sales taxes received in November (for the month of September) compared to the same month last year.

When the various adjustments to the monthly payment are removed, net September sales tax collections increased by approximately 10.4%.

“With the release of the September figures, we are able to report that gross sales tax collections for fiscal year 2020 (October-September) have increased by 4.7%. The September figures were a great way to end FY 2020 as it relates to sales taxes,” said Jared Werner, Chief Financial Officer.  “In analyzing the September data, some of the more recent sales tax trends were observed, such as increases in the areas of online sales and building material stores with declines coming from areas such as full-service restaurants and other service/leisure related industries.  However, the September data showed growth in several areas that have been negatively impacted since the onset of the pandemic, such as department stores.  While one month doesn’t make a trend, seeing growth in certain sectors that have been experiencing sharp declines is a positive sign as we move into FY 2021."

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