Page 50 - Haltom City Budget FY21

CITY OF HALTOM CITY ANNUAL BUDGET, FY2021 BUDGET 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 recorded 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 FY2021 was budgeted at a 4% decrease in General Fund due to the possible
long-term effects of the business’s shutdowns related to Covid-19. Although our City has only seen
about a 1% decrease year over year, we felt a conservative approach to sales tax revenues were
the best option for an unknown future of our economy.

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
2012 5,265,627 2,625,573 1,251,127 1,312,787 10,455,114 10.8%

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%

2021 10,156,136 - 1,799,206 2,720,206 14,675,548 -5.8%

Sales Tax Revenues
16
14 $3.02 $3.00 $2.72
$1.69 $2.58 $2.63
12 $1.53 $1.95 $2.04 $1.80
10 $1.31 $1.38 $1.42 $1.47 $1.64 $1.66 $1.70
$0.00
$1.25 $1.33 $1.36 $3.38
8 $2.76 $2.84 $3.05
MILLIONS 6 $2.63 $9.45 $9.64 $10.33 $10.54 $10.16
4
$5.27 $5.53 $5.68 $6.10 $6.75
2
0
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

General Fund Economic Development Crime Control District Street Reconstruction

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