COUNTY LIFE
Field guide to Taxes of Texas available
The Texas Comptroller’s office recently released Taxes of Texas: A Field Guide, a periodic report providing an overview of Texas’ major state taxes, andthe Tax Exemptions and Tax Incidence Report, which estimates the value of each exemption, exclusion, discount, deduction, special accounting method, credit, refund and special appraisal available to payers of Texas’ sales, franchise, motor vehicle sales and oil production taxes, as well as property taxes levied by school districts.
“As the 2023 legislative session kicks into high gear and legislators begin the difficult work of crafting a biennial budget, the Tax Exemptions and Tax Incidence Report provides lawmakers with exemption estimates to help them navigate a range of complex revenue and spending issues,” Texas Comptroller Glenn Hegar said.
In Tax Exemptions and Tax Incidence, Texans can see that for fiscal 2023, aggregate exemptions for these revenue sources will total an estimated $78.03 billion. Of this amount, exemptions related to state taxes included in the report account for $60.57 billion; school property tax exemptions account for the remaining $17.46 billion.
About $20.58 billion of the estimated fiscal 2023 amount represents sales tax exemptions for items taxable under other law, including insurance premiums, motor vehicle sales and motor fuels. Exemptions from the sales tax on those items are estimated to be worth $9.55 billion, $5.64 billion and $4.36 billion, respectively.
Other exemptions from the sales tax include $9.28 billion in raw materials used in manufacturing, $3.93 billion in food for home consumption and $1.05 billion worth of over-the-counter drugs and prescription medicines and devices.
Every year, the state collects billions in state taxes and fees, federal receipts and other sources of revenue. These funds are used to pay for all responsibilities of state government, including the education of nearly 5.4 million public school students and the provision of health insurance for more than 5 million low-income Texans.
In Taxes of Texas: A Field Guide, readers can:
- learn how major taxes have contributed to state revenue during the past 10 years;
- see revenue estimates, exemption value estimates and tax allocations; and
- connect to other in-depth resources about state taxes.
“Using a graphic-rich overview of major state and local taxes, including historical collections and estimates of future growth, this guide highlights and compiles useful information from a variety of Comptroller reports in one easily accessed spot,” Hegar said.
Additional reports highlighting state spending and revenue are on the Comptroller’s website.
Bowie will begin dressing up downtown during the annual Hanging of the Greens starting at 10 a.m. on Nov. 16.
On Saturday morning volunteers will gather to hang lighted garland and wreaths on the nearly 100 lamp posts throughout downtown Bowie. These sparkling decorations will light up the area for the Fantasy of Lights Christmas Festival the weekend of Dec. 7, as well as throughout the holiday season.
Any citizen, family, student, civic group or club is invited to take part. Those with questions may call the BCDB office at 872-6246. Volunteers will meet at city hall across from the BCDB office at Pecan and Mason to receive their supplies. Please bring along a step ladder.
It’s going to be a “Candy Cane Christmas” in Bowie this year during the Fantasy of Lights Christmas Festival on Dec. 7.
Event host, the Bowie Community Development Board is planning a full weekend of activities to help launch the holiday season in Bowie.
The lighted parade is one of the weekend’s highlights and those wishing to enter should remember the deadline is Nov. 16.
Dec. 6
Festival weekend begins with Sip & Stroll With Me from 5-8 p.m. on Dec. 6.
Throughout downtown participating merchants invite strollers to enjoy wine or other drinks, and other holiday munchies as they shop stores and meet retailers. There will be live music, a holiday photo booth, carriage rides and of course lots of shopping.
Wristbands may be purchased at any of the participating merchants for $15. Strollers will receive a wine glass with their wristband, but they also are welcome to use a previous glass. Proceeds go toward downtown beautification projects.
Dec. 7
Saturday offers a full array of family-fun activities to enjoy from pancakes to floats.
The City of Bowie Fire Department welcomes families to enjoy free Pancakes with Santa from 7 to 10 a.m. at the fire hall, 203 Walnut. Toy drive donations will be accepted and there will be photos with the Big Guy.
Read the full story in the mid-week Bowie News.
By BARBARA GREEN
[email protected]
Montague County celebrated its veterans Monday during a program at the courthouse annex in Montague.
The young men of the Trail Life Troop 1309 of Bowie posted the colors offering the American and Texas flags, followed by the American Heritage Girls Troop 1031 also from Bowie who gave the pledge of allegiance. Thad Murphy gave a beautiful rendition of the National Anthem.
Jerry “Doc” Cody, Forestburg, was the guest speaker sharing a bit of his experience as a U.S. Army veteran. Cody is an active volunteer with the county veteran services office, which hosted Monday’s program.
After being drafted, he was inducted into the Army on June 13, 1967. After completing basic combat training, Cody went to Fort Sam Houston in San Antonio where he trained as a combat medic.
After a 12-day leave he was sent to Vietnam where he served in the Central Highlands assigned to the 2/17th field artillery.
Read the full story in the mid-week Bowie News.
Top photo – speaker Jerry Cody.
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