IN THE NEWS

New Braunfels’ sales tax soars - City’s gross sales tax for fiscal year climbed almost $2 million

 

As printed in the New Braunfels Herald-Zeitung, November 15, 2019

It was a good year for sales in the city of New Braunfels.

City staff announced earlier this week that with the September figures in, they could put together a picture of fiscal year 2018-19 to compare with fiscal year 2017-18.

“With the release of the September figures, we are able to report that gross sales tax collections for FY 2018-19 (October-September) has increased by approximately $1.9 million or 6.02% in comparison to the previous fiscal year,” said Jared Werner, chief financial officer for the city. “Staff is pleased with the sales tax performance this fiscal year, especially the final quarter of FY 2018-19, which is impacted heavily by tourism activities within our community.” 

 

Sales tax figures come in from the comptroller’s office approximately six weeks after the end of each month, Werner said. 

The city was waiting for September numbers to come in to be able to compare the year over year figures. 

“So now we have that final month we can report on the year,” Werner said. “Gross sales tax was $33.3 million in FY 2018-19, and so it grew by about 6% over last fiscal year.”

The 6.02% is actually slightly higher than city projections, Werner said.

“If I had to categorize it, it’s been a roller coaster year as it relates to sales tax activity,” Werner said. “At the beginning of year we had about five months that were straight double digit increases year over year — and then we realized there was a large sales tax producing company just outside of city limits that was paying city taxes, so the comptroller had to remove those and adjust the following months reports to account for the correction.”

While the adjustments made by the comptroller’s office resulted in several months of sales tax collections that were actually lower in comparison to the previous year’s, the summer months rebounded nicely, Werner said.

“Summer months represent the highest revenue generating months of the year,” Werner said. “We were specifically pleased to see the figures for the month of July — about $3.3 million just for that one month, the highest on record for New Braunfels.”

 

August saw a 3.4% increase year over year and September saw a 5.4% increase, so it was a solid end to the fiscal year, Werner said.

“We were happy to see those months impacted by summer continue to grow,” Werner said.

Collected sales taxes go into the city’s general fund, helping support city services such as police, fire and public works as well as the 4B Board, which supports economic and quality of life investments. 

“Sales tax revenue is the largest source of revenue in the general fund,” Werner said. According to the state of the city earlier this year, sales tax makes ups 32% of the city’s general fund. 

That means about $21.97 million of the city’s budgeted expenditures of $68.65 million for fiscal year 2018-19 comes from sales tax. The total sales tax and use tax for the city is 8.25%, of which the city receives about 1.5%.

City staff is projecting conservative sales tax revenue growth in fiscal year 2019-20. For more information about city taxes, visit https://www.nbtexas.org/538/Tax-Information.

 
Read More >

Hillwood Communities and SouthStar Communities Partner on Residential Real Estate Holdings

(September 23, 2016—AUSTIN)  Hillwood Communities, a Perot company that specializes in creating master-planned developments, announced today an investment in SouthStar Communities, a nationally-recognized real estate investment, development and management firm. The partnership will focus on SouthStar Communities’ existing holdings of residential communities in Texas and Georgia. SouthStar will continue to manage the operations and development of these projects going forward.

Read More >

New Braunfels community honors Veterans with park and memorial walkway

(June 27, 2015—NEW BRAUNFELS)  Area veterans, local elected and community officials and residents of the Vintage Oaks community in New Braunfels honored Veterans today by dedicating a new park and memorial walkway.  Timber Ridge Park and Veteran's Walk is a 23-acre community park situated at the heart of the community on an open valley with long views to the surrounding Hill Country and crowned by a grove of heritage oak trees, some over 300 years old.

Read More >

Vintage Oaks is becoming a hot spot for new homebuilding for SouthStar

By Katie Burke, Reporter- San Antonio Business Journal

SouthStar Communities’ Vintage Oaks master-planned development in New Braunfels helped contribute to record first-quarter financial results for the company.

SouthStar reported $5.1 million in retail lot sales for Vintage Oaks, which is the strongest figure it has seen since the community debuted in 2006. New home plan submittals for Vintage Oaks are up 53 percent over the same period last year, a sign that home sales in Vintage Oaks could continue at a healthy clip throughout the rest of 2015.

Vintage Oaks is the fastest-growing community in the San Antonio metropolitan area for the second year in a row within the $300,000-and-above price category, according to national housing market research firm Metrostudy.

Read More >

King Oaks Fireman’s Fund Raises $2,500 for Iola Volunteer Fire Department

(January 29, 2014—IOLA, TX)  SouthStar Communities announced its King Oaks community has raised $2,575 through the King Oaks Fireman’s Fund.  A check was presented by King Oaks residents this week to the Iola Volunteer Fire Department.

“We’re pleased to organize this fund and work with our residents to support the Iola Fire Department,” said Thad Rutherford, Chief Operating Officer of SouthStar Communities.  “While our close proximity to College Station has always appealed to our homeowners, we are proud members of the Iola community as well.  Our residents and area neighbors are at the core what makes King Oaks such a special place to live.”

Read More >

SouthStar Communities Donates Fourth Site for Veteran Home in Vintage Oaks

Smart Home Breaks Ground with HEB and Operation FINALLY HOME

(January 29, 2015—NEW BRAUNFELS) SouthStar Communities, Operation FINALLY HOME and HEB broke ground today on a one-of-a-kind, custom-built, mortgage-free Smart Home for U.S. Army Specialist Michael Crawford in the developer’s Vintage Oaks neighborhood.  The 23-year-old veteran was wounded in 2011 while serving in Afghanistan when an improvised explosive device (IED) struck the truck he was in during combat.  Crawford’s injuries left him paralyzed completely in his right leg and with minimal movement in his left leg.  

“We are honored to have Specialist Crawford as a resident in Vintage Oaks and we thank him for his sacrificial service to our country,” said Thad Rutherford, Chief Operation Officer of SouthStar Communities, the developer of Vintage Oaks.  “This is the fourth Operation FINALLY HOME veteran home in Vintage Oaks and we can’t wait to have another hero as a neighbor in our community.”

Read More >

Vintage Oaks Tops Q3 Housing Starts in San Antonio Market for Second Year in a Row

Hill Country Real Estate Continues Explosive Growth

(October 31, 2014—NEW BRAUNFELS, TX)  Austin-based SouthStar Communities announced today that Vintage Oaks, one of its signature Hill Country communities, once again led the San Antonio market for new housing starts in the $300s.  According to MetroStudy, a national housing market research firm, Vintage Oaks reported 22 new home starts in Q3 and 75 home starts year to date, already 20 percent ahead of its record-setting 2013 numbers.  The development also ranked number one in Comal County for home starts in the $300s and reported 155 new homesite sales year to date. 

Read More >

Vintage Oaks welcomes residents home to Hill Country peace and beauty - as printed in San Antonio Express-News

New Braunfels’ Vintage Oaks attracts people from across the country – many of them age 50 and older – longing for the quiet beauty of the Hill Country, yet still wanting top amenities, plenty of space and the convenience of nearby cities.

Read More >

Lake Ridge Receives 2014 Premier Neighborhood Award from City of Cedar Hill

Members of the Cedar Hill City Council and Code Services award Lake Ridge the 2014 Premier Neighborhood.

(July 14, 2014-- CEDAR HILL) SouthStar Communities announced today that the City of Cedar Hill has named Lake Ridge its 2014 Premier Neighborhood. The honor was given at last week's city council meeting.

Read More >

SouthStar Communities Largest Producer of Land Loans for Texas Veteran Land Board

Veterans can purchase land for 5% down

Read More >