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City of Mansfield Annual Budget and Service Program Fiscal Year 2025-2026 Table of Contents

Sales Tax Revenue
Sales tax accounts for approximately 21% of all revenue in the General Fund. Sales tax revenue also supports the Mansfield
Park Facilities Development Corporation and Mansfield Economic Development Corporation. Despite the temporary
shutdown of restaurants and retail during the COVID-19 pandemic, the city of Mansfield’s sales tax revenue remained
steady in 2020 and even increased in 2021. Collections in 2022 and 2023 far exceeded the budgeted amounts, although
they appeared to slow down a bit in FY 2023-2024. Actual collections in FY 2023-2024 fell just shy of the budgeted amount,
therefore, during the FY 2024-2025 budget process, sales tax was projected to only increase by 2%. In FY 2025-2026, sales
tax is budgeted at $22,945,248, or a 9.55% increase over the FY 2024-2025 budget based on performance in the last quarter
of FY 2024-2025 and known developments coming online in FY 2025-2026. The City anticipates continued growth in retail
spending activity from new developments primarily along State Highway 360 in the “Entertainment District.” New
construction, including a super studio and a multi-use sports venue, along with several other economic development
projects will continue to attract retail and commercial development in the short and long term. Through the Mansfield
Economic Development program, the City is constantly searching for new retail, commercial and industrial developments
to grow its retail base.

*Unaudited
**Budgeted

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