Page 52 - Grapevine FY22 Adopted Budget v2
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Within the last twelve months, General Fund sales tax collections increased by $2.8 million
(11%) over FY20, which followed a $4.1 million (14%) decrease the previous year resulting
from COVID-19 business closures and travel restrictions. With the economy recovering, modest
gains in sales tax are expected.
Due to travel and event restrictions
during the COVID-19 pandemic,
hotel occupancy tax collections fell
by 44% from FY19 to FY20. As
business and leisure travel returned
in FY21, revenues moderated and
modest increases are expected in
FY22. However, a return to pre-
pandemic levels is not expected in
the upcoming fiscal year.
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