84.1 F
Fort Worth
Tuesday, October 20, 2020
Business Council Report: Sales tax revenue up for March

Council Report: Sales tax revenue up for March

Other News

Petalo, not Charmin: Virus brings Mexican toilet paper to US

By JOSEPH PISANI AP Retail Writer NEW YORK (AP) — Toilet...

Mall owners close to buying JC Penney out of bankruptcy

By ANNE D'INNOCENZIO AP Retail WriterNEW YORK (AP) — Mall owners Simon Property Group and Brookfield Property Partners are close to a...

At Home launches collection with Fort Worth connection

At Home Group Inc. (NYSE: HOME), The Home Décor Superstore, has debuted an exclusive collection with interior...

Former Toys ‘R’ Us reopens as Havertys in Southlake

HAVERTYS (NYSE: HVT and HVT.A) will officially open its new store in Southlake Corners on Friday, August 21, 2020. The 32,300 square...


During Tuesday’s work session, the Fort Worth City Council received an informal report on the March sales tax revenue.

Sales tax revenue represents approximately 22 percent 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 Fund.

The City’s net sales tax collection is up $725,679 or 5 percent, compared to the same month last year. The City experienced $563,563 or a 3.8 percent increase when compared to last year’s collections for the same month.

The City’s general fund sales tax collections are 101 percent to budget, and at 106 percent for the same period last year. The City’s Crime Control and Prevention District Fund (CCPD) sales tax collections as of FY2019 are 102 percent to budget, and 107 percent for the same period last year.

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

Fort Worth is fourth among large cities in the state for current year sales tax net collections with 106.4 percent. Irving leads with 117.6 percent, followed by Arlington at 108.6, and Austin at 107.2.

Latest News

City of Arlington Announces five finalists for police chief

The City of Arlington has named five finalists in its search for a new police chief in a search that began June...

National Democratic super PAC says it will double its spending to $12 million in battle for the Texas House

By Patrick Svitek, The Texas Tribune Oct. 20, 2020 "National Democratic super PAC says...

Texas joins Trump administration’s lawsuit against Google, arguing the tech company has a monopoly

By Stacy Fernández, The Texas Tribune Oct. 20, 2020 "Texas joins Trump administration's lawsuit...

Fort Worth bar receives TABC sanction

An effort by the Texas Alcoholic Beverage Commission to enforce the state’s COVID-19 health and safety protocols resulted in emergency orders to...

Tarrant County reports 6 COVID deaths on Tuesday

Tarrant County Public Health on Oct. 20 reported six COVID-19 deaths.The deceased include a man from Arlington in his 90s, a man...