City Of Fort Worth: Sales Tax Collections Increase 18% In December

Press release from City of Fort Worth:

March 03, 2022

Fort Worth’s net sales tax collections in December totaled $21,386,154, up from December 2020 by 18.2%.

December’s collections continue to demonstrate a trend of strong performance after several months of stagnation following the initial response to the COVID-19 pandemic in March 2020. It is expected that by March of 2022, the year over year comparison by month will reflect lower percentage growth as a result of being free from restrictions for a full year.

The state saw a net collection increase of 25.3% compared to the same month last year.

The city’s General Fund net sales tax collections for December are 114.8% to budget, and at 118.2% compared to the same month last year. The city’s Crime Control and Prevention District Fund sales tax collections for November are 115.3% to budget and 119.1% to the same month last year.

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.

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This press release was produced by City of Fort Worth. The views expressed here are the author’s own.