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Sales tax collections down slightly in December

Posted Feb. 22, 2017

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Fort Worth’s net sales tax collections in December totaled $14,910,614, down from December 2015 by $136,471, or 0.9 percent.

“Sales tax revenues are dependent upon many factors, which can cause some ups and downs in collections,” said Terry Hanson, assistant director of budget and analysis. “Most recently, the December total net collections for the City of Fort Worth were down 0.9 percent from the same month last year. This low to negative performance was also seen in Dallas, Austin, El Paso, San Antonio and Houston. One of the major contributors was the differences in other collections and audit adjustments, which is typically associated with adjustments to other months’ collections.

“Looking purely at the current collections for December, the city saw an increase from the prior year of 0.9 percent,” Hanson said. “Overall for the year, the city is currently 6.9 percent higher than last year.”

The city anticipates collecting $140,468,044 by fiscal year end.

Sales tax revenue represents about 22 percent 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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