(Seguin) — More money continues to flow into the local economy. The city of Seguin wrapped up 2024 with a look at the sales tax data for the last few years.
Finance Director Susan Caddell shared the news about the city’s growing sales tax collections during a presentation at the last meeting of the Seguin City Council. Caddell says Seguin’s sales tax growth exceeded that of most communities in this area.
“Really good news on the sales tax front. (We had) a 12.46 percent increase from this time last year. You can see every month, with the exception of June, we’re up. Then you can also see in May we were up 71 percent. That’s when we got an almost $740,000 sales tax payment. Even with that big sales tax audit payment that we had, we were up 6.7 percent for the year and we’re still ahead of from the surrounding areas that I compared us to,” said Caddell.
Caddell says anyone that you look at it retail sales grow significantly in 2024. It’s another indication of the commercial growth that’s taking place in the Seguin area.
“In 2024, I have it broken down by quarter. In 2024, through June — you go back to 2021 — and you can see that through June, we collected more than we did from 2021 for the whole year previously,” said Caddell.
The sales tax collection isn’t just good news for the economy, but it also supports property taxpayers. The city of Seguin uses a portion of its sales tax to help fund the Seguin Economic Development Corporation (SEDC). It also uses a similar small portion to help ease the tax burden on local taxpayers.