Government
BY LIZZY SPANGLER
The city of Magnolia collected over $300,000—or 5.94%—less in total sales tax revenue this fiscal year than in FY 2021-22, according to data from the city. This decline comes despite new developments, such as H-E-B, opening on the east side of the city. “Just watching what’s happening and the new businesses coming in, I don’t think it’s going to be a continuing trend,” Magnolia Mayor Todd Kana said in an interview. City officials said one reason for the decline could be the sales tax split on the east side. • In Texas, 6.25 cents of every dollar spent go to the state with another 2 cents up for local entities to claim, according to the Texas Comptroller of Public Accounts. • Magnolia collects 2 cents except on the Magnolia sees sales tax decline
Total Magnolia sales tax revenue
Looking forward
2021-22 2022-23
$5.09M
$4.79M
Despite the decline, Magnolia City Council projects sales tax revenue in its general fund increasing from $2.15 million in FY 2022-23 to $2.35 million in FY 2023-24, according to the budget adopted in late August. However, regarding economic development, Rachel Steele, Magnolia Economic Development Corp. executive director, said the MEDC’s planning indicates lower revenue will likely be a challenge through 2024. The 4A and 4B corporations receive one-half cent and one-quarter cent of the city’s sales tax, respectively. “As for the 4B Corporation, which does economic and community development projects, it has suspended several programs such as the facade grant and funding of recreation projects at Unity Park,” Steele said.
Magnolia Economic Development Corp.’s portion of sales tax revenue
2021-22
2022-23
$1.27M
4A Corp.
$1.2M
$636K $599K
4B Corp.
NOTE: MAGNOLIA’S 4A AND 4B CORPORATIONS USE SALES TAX TO FUND ECONOMIC DEVELOPMENT. SOURCE: CITY OF MAGNOLIA/COMMUNITY IMPACT
east side. Magnolia and Montgomery County Emergency Services District 10 each collect 1 cent on the east side following a 2014 vote to increase the sales tax rate in then-unincorporated ESD 10.
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