RGV's sales tax revenues continue to grow

EDINBURG, Texas - Just as it did throughout 2019, the Rio Grande Valley outperformed the state of Texas for sales tax revenues during the current reporting period.The data on sales taxes is collated by the Texas Comptroller’s Office. The most recent report, for January 2020, covers sales tax revenues for November 2019. “Last year, the Valley outperformed the growth rate of the state by a two to one margin. The state grew by roughly four percent. Our growth rate in the region bounced around seven and eight percent. We had a really good performance,” said Matt Ruszczak, executive director of Rio South Texas Economic Council. Each month, Ruszczak analyzes the sales tax revenue figures for the RSTEC board of directors, the Rio Grande Guardian and 710 News Talk KURV. “Now we are looking at the January report, which reflects November’s sales and we see the same trends as 2019,” Ruszczak said. “If you look at the State of Texas’ number for the month of November, the growth was 3.86 percent, compared to the same month in 2018. A good, strong number when you consider inflation fluctuates around two percent. When you are growing at four percent you have good, healthy, growth. If you look at the Valley number over the four counties combined, our growth rate was 7.74 percent, compared to the same month in 2018.”Ruszczak said this represented “a good, good, strong number for the Valley.” Editor's Note: A full report on the latest sales tax revenue figures for the Rio Grande Valley can be found in the Rio Grande Guardian.Go to www.riograndeguardian.com to read the latest border news stories and watch the latest news videos.