Page 55 - CityofGrapevineFY25AdoptedBudget
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Current Economic Trends Impacting Long-Range Forecasting
Increased economic activity is evident based on rises in sales tax, hotel occupancy, and other
revenues as compared to previous years.
Following the 2008-2009 Great Recession, Grapevine experienced incremental growth in sales
tax collections culminating in early FY20. Then, due to business closures and travel restrictions
resulting from the COVID-19 pandemic, sales tax collections bottomed-out during the second
half of FY20. As the economy recovered in FY21, sales tax collections reached near pre-
pandemic levels to close out the fiscal year followed by record collections in FY22.
Throughout FY23 and FY24 strong economic activity has resulted in record sales taxes. This
trend is expected to moderate in FY25.
Business and leisure travel have
remained strong. Fiscal year 2024
estimates a slight increase of
$332,000 (1%) over FY23.
Collections are expected to remain
constant in FY25.
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