Fort Worth’s net sales tax collections in February totaled $11,538,512, down from February 2020 by 2.3%.
The city’s General Fund net sales tax collections as of February are 103.9% to budget, and at 100.3% through the same period last year. The City’s Crime Control and Prevention District Fund sales tax collections as of February are 103.4% to budget and 101% through the same period last year.
Current collections are performing in line with expectations considering the adverse effects of COVID-19. In addition to the pandemic’s effect, the unusual winter weather in February also slowed sales tax collections. Store closures likely caused by widespread power outages and an extended taxpayer remittance deadline allowed by the state may be negatively affecting current collections.
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.