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Fort Worth
Tuesday, September 29, 2020
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Business Council Report: December sales tax and development activity

Council Report: December sales tax and development activity

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DECEMBER SALES TAX UPDATE

At Tuesday’s work session the Fort Worth City Council received an informal report on the city’s December sales revenue.

Sales tax revenue represents approximately 22% of the city’s general fund

anticipated revenue in Fiscal Year 2020. 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 $1,597,002, or 9.6%, compared to the same month last year. Officials anticipate collecting $172,769,615 in the general fund by fiscal year end, which matches original estimates in the FY2020 adopted budget.

The December sales tax continued its increase that began in 2017, bringing in $18.2 million, compared to $12.1 million a decade ago.

MONTHLY DEVELOPMENT ACTIVITY REPORT

The Fort Worth City Council’s work session Tuesday included receiving the monthly development report for January. The monthly report provides council members an update on development activity within the city and the measures staff are using to improve the development process. The report also keeps the council informed of the volume of

development activity, process improvements and staff’s performance in implementing changes and improving the delivery of plan review and permits.

January highlights include:

Building Permits

*575 new single-family permits were issued, compared to 557 in December, up 3% and up 45% from the 396 new permits issued in January 2019.

*126 new commercial permits were issued, compared to 181 in December, down 30%, but up 91% from the 66 new permits issued in January 2019.

*Total commercial valuation (including remodels and additions) for January 2020 was

$214 million, compared to $242 million in December, down 12%, but up 108% from $103 million in January 2019.

*The overall customer service satisfaction was 79% very positive or somewhat

positive for January, down from 96% in December.

* In January, 91% of customers surveyed thought that the inspections team was extremely helpful or very helpful, compared to 83% in December.

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