Tax revenue in Texas grew by a record 25.6 percent for the 2022 fiscal year through August, according to the latest tax collection data released by the state Comptroller of Public Accounts, Glenn Hegar.
All-funds tax collection for fiscal year 2022 until August came in at $77.2 billion, beating projections made in the Certification Revenue Estimate by nearly $841 million, the data show.
Since 1988, the growth in the all-funds tax collections has exceeded the prior fiscal year by double digits just five times. And even then, the increases were only in the range of 10 to 13 percent. The 26 percent increase in fiscal 2022 until August is almost double the largest increase seen since 1988….