Sales tax revenue in four NWA cities rose 9.32% in September report
The four largest cities in northwest Arkansas reported cumulative sales tax revenue of $ 7.858 million in the September report, up 9.32% from a year earlier and essentially flat compared to the same period in 2019.
September sales tax revenue is generated from the local sales that each city collected in July for the goods and services rendered. Cities each allocate 1% of their local taxes to their annual budgets and this report reflects that percentage. Other local taxes are used to pay off debt and are not included in this report.
September revenue indicates a slowdown from the previous four months of double-digit gains over last year’s results. Rogers and Fayetteville each recorded solid double-digit gains in September of 17.05% and 14.78%, respectively. Springdale posted gains of 9.75%. Bentonville revenue was down 4% from a year ago. But the city continues to record unprecedented gains in sales tax revenue this year, as it was the first month in 2021 that growth failed to occur.
At $ 1.806 million in reported revenue this month, Bentonville increased its sales tax revenue by over $ 500,000 from the same period in 2019. Thanks to the first nine reports this year, Bentonville added 15,766 million dollars to its municipal coffers, a gain of 30.4%. compared to the same period last year and 39.3% compared to the same period in 2019.
Rogers ends the year stronger than she started it. Sales tax revenue for the September report totaled $ 2.038 million, up 17% from a year ago and 19% from the pre-COVID period of 2019. In the nine First months of reporting, Rogers’ sales tax revenue totaled $ 17.469 million, up from $ 15.314 million during the same period last year. That’s an annual gain of 14%. Compared to the pre-COVID year of 2019, sales tax revenue increased 16% through the September report.
Springdale reported sales tax revenue of $ 1.742 million in the September report, up 9.75% from last year. Like other cities in the region, tax revenue is also higher than the pre-COVID year of 2019. For the first nine months reported this year, Springdale’s tax revenue totaled $ 14.151 million, up 11 , 69% compared to the same period last year and 21.9%. higher than the same period in 2019. Springdale added $ 1.48 million more to its city’s revenue this year compared to the same nine months of 2020. Compared to 2019 without COVID, the city has recorded revenue growth of $ 2.54 million.
Fayetteville is also on the run this year with higher than expected tax revenue growth. The September report showed revenue growth of 14.78% compared to the same month last year. Revenue totaled $ 2.303 million, up approximately $ 300,000 from the same period last year and $ 500,000 from the same month in 2019.
In the first nine months of this year’s reporting, Fayetteville’s sales tax revenue totals $ 19.886 million, better than the $ 17.257 million in the same period last year. Compared to the pre-COVID year of 2019, sales tax revenue growth in city coffers is $ 3.167 million. Fayetteville is on track for another record year of sales tax revenue growth surpassing last year’s 4.65% gains and 1.68% annual growth from 2019.