Page 66 - Grapevine FY23 Adopted Budget (1)

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.

Since then, growth has risen exponentially culminating at 21.49% by the end of FY22.

MIXED BEVERAGE FY-2017 FY-2018 FY-2019 FY-2020 FY-2021 FY-2022
TAX

Collections $1,733,258 $1,792,674 $2,145,940 $1,477,422 $1,793,124 $2,377,346
Gain / (Loss) $23,216 $59,416 $353,266 -$668,519 $315,702 $584,222
% Change 1.4% 3.4% 19.7% -31.2% 21.4% 32.6%

Mixed beverage taxes are budgeted at $2.1 million for FY23, which represents an increase of
$100,000 from the previous year’s budget. Actual collections for FY22 were up $584,222 and
represent an increase of (32.6%) from the previous year.

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