Retail growth up in Laguna Madre

By MARTHA McCLAIN
Special to the PRESS

The cities of Laguna Vista and South Padre Island saw double-digit increases in their respective sales tax allocations in the past month, while Port Isabel barely missed the mark by a fraction.

The allocations, presented by the State Comptroller’s office, provide data on monthly local sales and use tax payments to local jurisdictions. The payments represent sales tax funds collected on the sale of retail products for local jurisdictions by the comptroller’s office.

Net payments allow municipalities to compare current-year sales and use tax payments with those of the previous year, according to the comptroller’s office. When used with other local indicators, they may help indicate present and future economic trends.

On a percentage increase basis, the Town of Laguna Vista led the Laguna Madre area with a 15.43 percent increase in October, bringing in $15,464 for the month. Year-to-date, the Town has collected $150,235, up 8.9 percent over the past year.

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Permanent link to this article: https://www.portisabelsouthpadre.com/2018/11/02/retail-growth-up-in-laguna-madre/

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