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.