Sales tax collections down slightly in July

Fort Worth’s net sales tax collections in July totaled $13,097,419, down from July 2019 by 1.8%.

The city’s General Fund net sales tax collections through July are 96.2% to budget and at 100.6% through the same period last year. The Crime Control and Prevention District Fund sales tax collections through July are 97.3% to budget, and 100.6% through the same period last year.

The city originally anticipated collecting $172,769,615 in the General Fund by fiscal year end according to the FY2020 adopted budget.

Current collections are performing in line with expectations considering the adverse effects of COVID-19. Net collections performed better than the state’s decrease of 5.63% compared to last year. Future collections will continue to provide further understanding of the ongoing economic impact of the pandemic.

Sales tax revenue represents 22.4% 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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