The City of New Braunfels has announced an overall increase of approximately $217,000 or 8.1% in sales taxes received in March (for the month of January)
compared to the same month last year. When the various adjustments to the monthly payment are removed, net January sales tax collections increased by approximately 6.5%.
“With the release of the January figures, sales taxes through the first four months of the fiscal year (October-January) are up 7.9%. The January figures continued the recent positive growth trend as it relates to sales taxes. Specifically, we were pleased to see growth in areas that have been directly impacted by the pandemic such as full-service restaurants and department stores. Similar trends such as growth in building materials stores and non-store retailers (online sales) continued their strong growth pattern as well,” said Jared Werner, Chief Financial Officer. “Looking to the February and March sales tax activity, staff is anticipating some potential volatility as it relates to the immediate impact of the winter storm (February) as well as the subsequent sales due to the purchase of materials, supplies, and taxable services to address storm related damage (March).”