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Friday, October 30, 2020
Business Council Report: Sales Tax Report

Council Report: Sales Tax Report

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At its Tuesday June 18 work session, the Fort Worth City Council received an informal report on the April sales tax update for the city.

Sales tax revenue represents approximately 22% of the city’s general fund anticipated revenue in Fiscal Year 2019. It is the second largest revenue source, with property tax being the largest. In addition, sales tax revenue represents the largest revenue source in the Crime Control and Prevention District (CCPD) fund.

The city’s net sales tax collection is up more than $1 million or 8.6%, compared to the same month last year. The increase for April 2019 compared to April 2018 was 5.2%, or $627,589.

The city’s general fund sales tax collections seven months into FY2019, which started Oct. 1, are 102% to budget, compared to 107% for the same period last year. The CCPD sales tax collections for that same span 104% to budget, and 107% for the same period last year.

City officials anticipate collecting approximately $163,151,802 by fiscal year end, which matches original estimates in the FY2019 budget.

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