Page 70 - Grapevine FY22 Adopted Budget v2

The growth stabilized at approximately 3% for the next full year until it experienced another drop
in February 2017 to 2.69% and continued to decline until it bottomed out in November 2017 with a
negative growth factor of -1.6%. It then began an extended recovery, eventually peaking in June
2019 at 6.29% growth. Unfortunately, the COVID-19 pandemic which became widespread in
March 2020 began another prolonged decline falling to -4.2% in September 2020 and eventually
bottoming out at -15% in April 2021. As the economy reopened throughout FY21, sales tax
growth climbed from historic lows reaching -2.4% by September 2021.

MIXED BEVERAGE FY-2016 FY-2017 FY-2018 FY-2019 FY-2020 FY-2021
TAX

Collections $1,710,043 $1,733,258 $1,792,674 $2,145,940 $1,477,422 $1,793,124
Gain / (Loss) $62,267 $23,216 $59,416 $353,266 -$668,519 $315,702
% Change 3.8% 1.4% 3.4% 19.7% -31.2% 21.4%

Mixed beverage taxes are budgeted at $2 million for FY22, which represents an increase of
$157,000 from the previous year’s budget. Actual collections for FY21 were up $315,702 and
represent an increase of (21.4%) from the previous year.

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