Page 69 - CityofGrapevineFY25AdoptedBudget

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 23% in February 2023. Throughout FY24
growth averaged 10%.

MIXED BEVERAGE FY-2019 FY-2020 FY-2021 FY-2022 FY-2023 FY-2024
TAX Actual Actual Actual Actual Actual Estimate

Collections $2,145,940 $1,477,422 $1,793,124 $2,377,346 $2,701,727 $2,766,930
Gain / (Loss) $353,266 -$668,519 $315,702 $584,222 $324,381 $65,203
% Change 19.7% -31.2% 21.4% 32.6% 13.6% 2.4%

Mixed beverage taxes are budgeted at $2.8 million for FY25, which represents an increase of
$338,000 from the previous year’s budget. Actual collections for FY24 were up $65,203 and
represent an increase of (2.4%) from the previous year.

61 Back to Table of Contents
of
of
Contents
Contents
to
Back
Back
Table
Table
to