Data: Sales tax revenue increases year over year in Keller, decreases in Fort Worth, Roanoke
The city of Roanoke saw its largest drop in sales tax revenue in July year over year, at 16.86%. (Community Impact employee)
The city of Keller continues to beat 2019 numbers when it comes to sales tax allocation for September 2020, which generally reflects purchases made in July.
According to data released by the Texas Comptroller’s office on September 10, the city’s sales tax allocation for September totaled $ 1,006,360. The last allocation represents an increase of 8.16% over the previous year’s value of 930,415.61 USD.
“The year-over-year increase in sales tax revenues underscores the impact of residents shopping in person and online within city limits,” said Aaron Rector, finance director of Keller. “The residents take on home improvement projects, equip their children for virtual learning, invest in entertainment and much more.”
Year-to-date sales tax allocations for Keller were $ 9.44 million, an increase of 13.3% over the same period last year.
Meanwhile, sales tax revenue for the city of Fort Worth declined slightly in July. The city stood at $ 13.9 million in September, down 1.8% from 2019.
Fort Worth year-to-date sales tax revenue was $ 123.5 million, down 0.12% from the same period last year.
“Sales tax revenues represent 22.4% of the city’s general fund budget,” city officials said in a September 15 press release. “This is the second largest source of income, with property taxes being the largest.”
Sales tax revenue through July is only 4% lower than the city’s projected sales tax share of general fund income, according to the press release. City officials initially anticipated net income of $ 172.7 million by the end of fiscal year 2019-20.
“The current collections meet expectations given the adverse effects of COVID-19,” the press release said. “Net collections fared better than the state’s 5.63% year-over-year decline. [and] Future collections will continue to provide a better understanding of the ongoing economic impact of the pandemic. “
The city of Roanoke recorded the largest year-over-year decline in sales tax revenue in July, at 16.86%. The city accumulated more than $ 1.4 million in sales tax revenue in July 2019, compared to just $ 1.2 million in July 2020.
Year-to-date, the city of Roanoke has generated more than $ 12.9 million in sales tax revenue compared to $ 12.2 million at the same time in 2019, an increase of 5.04%.
At the state level, officials on Sept. 10 announced a 4.5% decrease in sales tax payments across the state compared to the same period last year. September allocations declined to $ 765 million nationwide.