Sales tax collections increase 21% in August

Published on November 02, 2022

Fort Worth’s net sales tax collections in August totaled $18,816,373, up from August 2021 by 21.2%.

The state saw a net collection increase of 18% compared to the same month last year.

The city’s General Fund net sales tax collections year to date are 118.6% to budget, and at 116.7% compared to the year-to-date total last year. The city’s Crime Control and Prevention District Fund sales tax collections for June are 118.7% to budget and 117.1% of the year-to-date total for the same month last year.

The City anticipates collecting $204,500,000 by fiscal year end, an increase of $21.6 million, or 11.8%, over the fiscal year 2022 adopted budget. This represents an 8.7% increase over fiscal year 2021 actual collections, and a 20.3% increase over the fiscal year 2021 adopted budget.

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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