Mayor Mattie Parker, City of Fort Worth | City of Fort Worth website
Mayor Mattie Parker, City of Fort Worth | City of Fort Worth website
August sales tax collections in Fort Worth increased compared to the same month last year. Sales tax revenue constitutes 25% of the City of Fort Worth’s General Fund for Fiscal Year 2024, making it the second-largest General Fund source of revenue after property tax.
"Sales tax represents a significant revenue source for the City and can sometimes be a volatile revenue stream, so it is important for the City to closely monitor and report on monthly sales tax receipts," city officials stated. The FY2024 adopted budget for sales tax was estimated based on historical trends.
August 2024 collections are higher than those in August 2023. Sales tax revenue also represents the largest revenue source in the Crime Control & Prevention District (CCPD) Fund.
Sales tax is collected on various transactions beyond traditional retail. Understanding these sources is crucial to anticipating fluctuations. The top five performing industries include department stores, limited-service eating places, building materials stores, electric utilities, and other non-store retailers.
Alerts Sign-up