Page 74 - FortWorthFY23AdoptedBudget

Budget Highlights

Sales Tax

Of the total sales and use tax paid on a purchase, the Sales Tax Revenue from the City’s one-cent of the
City only receives a small portion. The following sales tax, exclusive of the one-half cent special use
depicts where the sales tax is distributed. tax for the Crime Control and Prevention District
Fund, is projected to equal $212.1M. FY2022
preliminary year-end projections are showing
collections exceeding the original estimates
developed for the year. Original expectations for
FY2022 were $182.9M and the fiscal year-end
preliminary projection was up $21.6M for a total of
$204.5M at the time of FY2023’s development.
FY2023’s expectation of $212.1M is an increase of
$29.3M or 16.0% from the FY2022 budget. This
revenue is dependent on the level of wholesale and
retail sales and the economic strength of the local
economy. Over the past ten years, the City of Fort
Worth sales tax collection has grown from $126.0M
in 2014 to the estimated amount of $212.1M for
FY2023, which represents a 68.25% growth over the
last ten years.

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