File photo
File photo
Sales tax collections for July 2020 dropped 1.8% in Fort Worth compared to July 2019, totaling $13.1 million.
Collections match expectations considering the economic effects of the COVID-19 pandemic, the City of Fort Worth reported. The city’s net collections did better than Texas, which experienced a 5.6% decrease compared to 2019 sales tax revenue.
Fort Worth’s FY 2020 adopted budget projected $172.8 million in its General Fund by the end of the fiscal year. City officials will learn more about the ongoing effects of the pandemic. The community spread level remains substantial in Tarrant County, with 170 new cases reported, Tarrant County’s website said.
After property taxes, sales tax revenue is the second largest source of revenue, making up 22.4% of the Fort Worth General Fund budget.
Sales tax makes up the largest source of funds for the Crime Control and Prevention District.
Through July, General Fund net sales tax collections were 96.2% to budget. It was at 100.6% through the same period in 2019, the city reported.
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