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.
National Weather Service Fort Worth report: We’re closing down the work week with another round of HOT and DRY weather. Much of the area will see an elevated fire weather threat again today! A Heat Advisory remains in effect through 8 pm this evening. More heat headlines likely this weekend and early next week
It’s time once again for the Montague County Cemetery Board Fish Fry.
The fish fry will begin serving at 5 p.m. on Aug. 22 at the Forestburg Community Center. The price is $10 per person for all you can eat, and child’s plate for 12 and under is $5. Take-out is also available.
The meal will consist of locally caught crappie and catfish, French fries, beans, hushpuppies, coleslaw and all the trimmings and homemade desserts.
The main purpose of the Montague County Cemetery Board is to look after the county’s abandoned cemeteries. The county has between 50 and 60 abandoned cemeteries. Cleaning a cemetery typically cost between $1,500 and $2,000. Any help is greatly appreciated. Help can be monetary, but it can also be as simple as reporting a suspected lost cemetery, allowing access to the cemetery, or spending a day alongside others cleaning. Volunteers are always welcome.
Another goal of the Cemetery Board is to obtain Historical Status from the Texas Historical Commission for the abandoned cemeteries. This status records the cemetery with both the county and state. It helps to protect them for years to come.
Leadership Montague County is now accepting applications for its upcoming class. Deadline to submit an application is Sept. 1.
Individuals who are interested in strengthening their leadership skills, expanding their knowledge of Montague County and building lasting professional and community relationships are encouraged to apply.
The program is a nine-month leadership development program consisting of nine, one-day, monthly meetings. Participants will explore topics including local government, agriculture, education, healthcare, business and industry, public safety, economic development and community leadership through interactive sessions and site visits. The group will be traveling to Austin in the spring to visit with the legislators and senators and to see how they work for the county residents.
Leadership Montague County is designed for emerging and established leaders who have a desire to become more involved in improving the quality of life throughout Montague County.
Class size is limited, and early application is encouraged. For additional information or to request an application, contact: Leadership Montague County, j-hansard@tamu.edu or call 940-894-2831
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