Published on May 19, 2021
Fort Worth’s net sales tax collections in March totaled $18,615,313, up from March 2020 by 29.5%.
March collections appear to show a rebound from the delay in spending during the February winter weather disaster. In addition, Gov. Greg Abbott fully lifted COVID-19 restrictions in March, which likely contributed to increased collections. March of 2020 saw the negative impacts and decline in revenue from the onset of COVID-19 as the city declared a local disaster and implemented restrictions.
The city’s General Fund net sales tax collections as of March are 106.5% to budget, and at 105.3% through the same period last year. The city’s Crime Control and Prevention District Fund sales tax collections as of March are 105.1% to budget and 105.8% through the same period last year.
The city anticipates collecting $168,248,488 by the end of the fiscal year, which matches original estimates in the adopted budget. This is 1.56% over fiscal year 2020 actual collections.
Sales tax revenue represents 22% of the city’s General Fund budget. This is the second largest revenue source, with property taxes being the largest.
For the Crime Control and Prevention District, sales tax revenue represents the largest revenue source.