City Of Fort Worth: Sales Tax Collections Up 33.9% In April

Dallas TX

22 June, 2021

5:57 PM

Description

Press release from City of Fort Worth: June 22, 2021 Fort Worth's net sales tax collections in April totaled $15,476,213, up from April 2020 by 33.9%. April's collections continue to demonstrate progress after the lag experienced as a result of the pandemic last year. Gov. Greg Abbott fully lifted COVID-19 restrictions in March of this year. The last two months, March and April, have both shown great performance, at near pre-pandemic levels. However, this has not catapulted the fiscal year as a whole back to a pre-pandemic status. The city's General Fund net sales tax collections as of April are 108% to budget, and at 108.7% through the same period last year. The city's Crime Control and Prevention District Fund sales tax collections as of April are 107% to budget and 109.4% through the same period last year. The city anticipates collecting $168,248,488 by the end of the fiscal year, which matches original estimates in the adopted budget. This is 1.56% over fiscal year 2020 actual collections. Staff will continue to provide regular updates as financial analysis continues for sales tax impacts due to COVID-19. Sales tax revenue represents 22% of the city's General Fund budget. This is the second largest revenue source, with property taxes being the largest. For the Crime Control and Prevention District, sales tax revenue represents the largest revenue source.   This press release was produced by City of Fort Worth. The views expressed here are the author's own.