Government
Richardson sees sales tax revenue increase Richardson saw an increase in sales tax revenue in February, according to information on the Texas Comptroller of Public Affairs website. The details Texas Comptroller Glenn Hegar paid Richardson $6.307 million in sales tax revenue, a nearly 19% increase from the $5.304 million paid in for the same period last year. The year-to-date payment for sales tax revenue is $10.353 million, 11% higher than the $9.316 million paid for the same period in 2024. Zooming out Statewide, sales tax revenue is up 4.3%, totaling $3.8 billion, according to a news release from the comptroller’s office. Sales tax makes up approximately 58% of all taxes collected in the state.
Council approves homestead increase Richardson seniors and residents with disabilities will see an increase in their homestead exemption following a staff recommendation. City Council approved a resolution raising the homestead exemption from $145,000 to $160,000 during the Feb. 24 meeting. What happened Assistant Director of Finance Todd Gastrof initially presented the plan during a Feb. 3 meeting, stating the goal is to maintain a tax benefit of about 30% of the home value. Explained The exemption is applied to the overall market value of a home and the remaining number is the property’s taxable value.
February Year over year sales tax revenue
$6.307M
2025 2024
$5.304M
SOURCE: TEXAS COMPTROLLER/COMMUNITY IMPACT NEWSPAPER
What else? Texas collected the following revenue from other major taxes: • motor vehicle sales and rental taxes — $650 million , up 11% from February 2024 • motor fuel taxes — $310 million , up 2% from February 2024 • oil production tax — $486 million , up 6% from February 2024 • natural gas production tax — $221 million , up 19% from February 2024 • hotel occupancy tax — $57 million , down 2% from February 2024 • alcoholic beverage taxes — $128 million , down less than 1% from February 2024
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