Page 48 - City of Fort Worth Budget Book

Budget Highlights Revenue Highlights

Sales Tax
Of the total sales and use tax paid on a purchase, Sales tax revenue from the city’s one-cent of the
the City only receives a small portion. The sales tax, exclusive of the one-half cent special
following depicts where the sales tax is use tax for the Crime Control and Prevention
distributed. District Fund, is projected to equal $250.0M. As
sales tax revenue was growing significantly after
COVID-19, significant growth was expected for
2023. FY2023 preliminary year end projections
were showing collections exceeding the original
estimates developed for the year. Original
expectations for FY2023 were $212.1M and the
fiscal year-end preliminary projection was up
$23.2M for a total of $235.3M at the time of
FY2024’s development. The FY2024 Budget’s
expectation of $250.0M is an increase of $37.9M
or 17.9% from the FY2023 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
$125.5M in 2014 to the estimated amount of
$250.0M for FY2024, which represents a 99.2%
growth over the last ten years.

10 Year Sales Tax Collection

$300
$280
$260
$240 $250
$220
$218
$200 $212
$180 $188
Millions $160 $148 $157 $165 $166

$140
$120 $132 $138
$100
$80
$60
$40
$20
$—
FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 Adopted FY2024
FY2023 Rec.

Page 48