Wednesday, January 19, 2022
60.5 F
Fort Worth

City Council: Sales tax revenues up 6.8 percent in July

🕐 1 min read

In its work session Tuesday, the Fort Worth City Council received a sales tax update for July. Sales tax revenue represents approximately 23 percent city’s general fund

anticipated revenue in Fiscal Year 2018, the second largest revenue source behind property tax.

In addition, sales tax revenue represents the largest revenue source in the Crime Control and Prevention District fund.

The July net sales tax collection is up $798,296 or 6.8 percent, compared to the same month last year. City officials anticipate collecting $156,118,730 by fiscal year end (Sept. 30), which is a 1 percent increase from the original estimates in the fiscal year 2018 budget.

Compared to other major cities, Fort Worth ranked seventh in the state in July compared to fiscal year 2017 collections for the same period, behind McKinney, Austin, El Paso, Houston, Grand Prairie, and Plano. This was based on information from the Texas Comptroller of Public Accounts.

Related Articles

Our Digital Sponsors

Latest Articles

Get our email updates

Stay up-to-date with the issues, companies and people that matter most to business in the Fort Worth.

  • Restaurants
  • Technology
  • and more!

FWBP Morning Brief

FWBP 5@5

Weekend Newsletter

  • Banking & Finance
  • Culture
  • Real Estate

Not ready to subscribe?

Try a few articles on us.

Enter your email address and we will give you access to three articles a month, to give us a try. You also get an opportunity to receive our newsletter with stories of the day.

This field is for validation purposes and should be left unchanged.