In a year that saw Howe restart its chamber of commerce, hire a full-time economic development president, land three new retail businesses and a new apartment complex, the State Comptroller Glen Hegar revealed that Howe has eclipsed the previous high in sales tax with a 2015 total of $308,689.11 which is up 12.44 percent equating to $34,163.72 from 2014’s total of $274,525.39.
The 2014 total was the previous high of any year since the 1992 recordings. The largest jump from one year to the next happened from 1997 to 1998 when the revenue increased by $51,212.86. That year’s increase was due to the adoption of the 4B sales tax funding, therefore making this year’s increase the largest jump with all things equal.
Howe’s 12.44 percent change ranks the city 265 out of 1152 Texas communities. In comparison to other surrounding communities, Van Alstyne increased 8.27 percent, Anna increased 7.25 percent, Denison increased 4.45 percent and Sherman increased 2.10 percent.
By percentage growth in sales tax revenue, Howe compares to nearby communities of Princeton, 12.61 percent; Wylie 12.82 percent; Leonard 13.34 percent and Whitewright, 13.47 percent.
Howe and Whitewright’s sales tax revenue numbers are nearly identical on a monthly revenue basis and a year-end total. The total of $309,799.20 shows an increase for Whitewright above their $273,020.36 from 2014. However, Whitewright is just now coming back after a massive fall off of $420,888.59 total in 2011 to $271,629.03 in 2012.
“This is only the beginning of what will be an economic transformation of Howe.” says Howe’s President of Economic Development. “Being located on US 75 gives us a great opportunity in the next 10 years to go from this new accomplished goal of $300,000 to $1,000,000 by 2025. I really feel like we are on track and can look 14 miles to the south to back up those goals.” Anna went from $353,781 in 2005 to $1,472,317 in 2015.
The north to south US 75 corridor in sales tax revenue:
Denison, $5,896,065, +4.45%
Sherman, $18,336,491, +2.10%
Howe, $308,689, +12.44%
Van Alstyne, $984,349, +8.27%
Anna, $1,472,317, +7.25%
Melissa, $1,706,728 -0.65%
McKinney, $43,383,455, +7.50%
Fairview, $3,045,766, +4.22%
Allen, $35,478,210, +0.44%
Plano, $77,558,042, +2.87%
Richardson, $31,751,701, +5.48%
Dallas, $272,645,990, +6.11%
