Page 34 - Hurst Budget FY21

Retail Sales
DEMOGRAPHICS AND ECONOMICS Millions

$21.40 $21.69 $21.01 $21.35 $21.00 $20.03
Hurst is considered a major retail-commercial $20
center of the northeast Tarrant County area.
North East Mall and a number of quality
shopping centers throughout the City provide
residents with a wide variety of goods and $19
services from which to choose. A major
expansion of North East Mall and new
development adjacent to the mall, Shops at
North East Mall, was completed approximately $18
eleven years ago. The graph to the right
displays the impact of this major
development/redevelopment effort. The City
only budgets approximately 92% of estimated $17
sales tax earnings so sales tax losses related
to economic conditions are managed
proactively. The City collects 2% of sales and
use receipts from businesses within the City. A $16
total of $20,282,889 was collected for fiscal
year 2018-2019, a .6% increase over
collections in fiscal year 2014-2015. The
decrease was the financial impact of COVID- $15 2014‐2015 2015‐2016 2016‐2017 2017‐2018 2018‐2019 2019‐2020
19.

Resdential Property Taxable Value Commercial Property Taxable Value
$2.00 $2.00
$1.75 1.9 $1.75
1.8
$1.50 1.7 $1.50 1.7 1.7
1.5
$1.25 1.5 $1.25
1.36 1.33 1.43
$1.00 1.19 $1.00 1.2
$0.75 $0.75
$0.50 $0.50
$0.25 $0.25
$0.00 $0.00
2015 2016 2017 2018 2019 2020 2015 2016 2017 2018 2019 2020
Tax Year Tax Year

Of 18,347 property accounts in the City, 11,537 are residential accounts. The remaining 6,810
are from commercial accounts. Over the past five years, property values have increased by $1.2
million dollars from $2.39 billion to $3.6 billion, a 66% increase due primarily to an increase in
property values. (Amounts per Tarrant Appraisal District July 21, 2020 Certified Tax Roll.)

22