Page 41 - Haltom City FY20 Approved Budget

City of Haltom City Annual Budget, FY 2020
Overview

SALES TAX

The City imposes a local option sales tax of 2% on all retail sales, leases and rentals of most
goods, as well as taxable services. The sales tax allocations are: 1.375% for general purposes
and is recorded in the General Fund, 0.25% is for crime control and prevention and is record in
the Crime Control and Prevention District Fund, and the rest of the 0.375% is for street
improvements and is recorded in the Street Reconstruction Fund.

Outlook
Sales tax revenues for FY2020 is estimated to increase optimistically at about 2%.

Major Influence
Factors affecting sales tax revenues include population, retail sales, economy and consumer price
index.

Fiscal General Fund Economic Crime Control Street Total Percent of
Year Development District Reconstruction Change
2011 4,927,301 2,456,626 1,162,617 1,228,313 9,774,857 10.8%
2012 5,265,627 2,625,573 1,251,127 1,312,787 10,455,114 7.0%
2013 5,528,226 2,755,820 1,327,971 1,377,910 10,989,927 5.1%
2014 5,681,874 2,843,834 1,355,192 1,421,917 11,302,817 2.8%
2015 6,095,550 3,053,111 1,465,227 1,526,546 12,140,434 7.4%
2016 6,747,264 3,379,538 1,643,414 1,689,760 13,459,977 10.9%
2017 9,447,444 - 1,662,631 2,577,863 13,687,938 1.7%
2018 9,636,393 - 1,695,883 2,629,420 13,961,696 2.0%
2019 10,330,000 - 1,945,787 3,015,803 15,291,590 9.5%
2020 10,536,600 - 2,043,076 3,000,000 15,579,676 1.9%

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