At Tuesday’s work session, the Fort Worth City Council received the September sales tax update. 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 Fund.
The city experienced an increase of more than $1 million, or a 7.5% increase in current period collections when compared to last year’s collections for the same month. In all, current period collections totaled over $15.3 million, compared to just over $14.2 in September 2018.
The city’s general fund sales tax as of the final month of the Fiscal Year 2019 budget are 100.9% to budget, and at 105.1% for the same period last year. The CCPD sales tax collections are 101.9% to budget, compared to 105.7% for the same period last year.
Overall, the city sales tax collections rose in the fourth quarter of the fiscal year to 104.1% to budget, after taking a dip to 103.6% in the third quarter. Still, the recent uptick trails the first two quarters, when the results were 106.2% and 106.6%.
Compared to other select cities throughout the state, Fort Worth’s 105.1% compared to last year’s same period is tied for sixth with San Antonio. Irving leads with 111.8%, followed by Arlington (109.9%), Austin (107.3%), Grand Prairie (106.5%), and McKinney (105.8%).
The state total average is 105.5%.