Published on August 11, 2024

Fort Worth’s sales tax revenues were slightly lower in July than in the same month last year.

Why it is important: Sales tax is an important source of revenue for the City and can be a volatile source of revenue. Therefore, it is important for the City to closely monitor and report monthly sales tax revenue.

In numbers: The general fund’s net sales tax revenues in July were 4.5% below the approved budget and 0.6% below the same month last year.

Sales tax revenues account for 25% of the city’s general budget revenues in fiscal year 2024 and are the second largest source of revenue after property taxes.

The past few years have seen significant fluctuations in the economy and retail sales, including as a result of reform of sales tax laws to the state auditor general, the impact of a historic winter storm, fluctuations in federal funds rates, and the impact of a global pandemic.

The sales tax budget adopted for fiscal year 2024 was estimated based on historical trends. The City takes a conservative, yet realistic, approach to estimating sales tax.

Crime Prevention and Control District

Sales tax revenue is the largest source of revenue for the Crime Control & Prevention District (CCPD Fund).

The CCPD Fund’s net sales tax revenues in July were 2.3% below the approved budget and 0.7% below the same month last year.

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