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With the economic downturn from the COVID-19 crisis, one local community has still managed to see a small increase in its sales tax revenue compared to last year.
Community Impact Newspaper recently reported that while Lewisville and Highland Village had a decrease in April sales tax revenue compared to last year, Flower Mound actually managed to eek out an increase. The 1.7% growth in revenue will net the community only around $100,000 more in revenue than they took in for 2019, with $1.4 million total.
The drops in revenue for Lewisville and Highland Village were much more substantial than Flower Mound’s increase.
Community Impact reported that Lewisville’s revenues fell 13.4% from last year, representing an approximate loss of $600,000. In Highland Village, the 12.7% decline in revenue over last year will cost the community approximately $127,000 in lost revenue.
Statewide, sales tax revenue has decline by 11.7%, which Community Impact reported as the steepest year-to-year decline Texas has experienced since 2009.
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