FW Sales Tax Revenue Up for 3rd Straight Month - NBC 5 Dallas-Fort Worth

FW Sales Tax Revenue Up for 3rd Straight Month

Better-than-expected numbers could put dent in projected budget shortfall



    FW Sales Tax Revenue Up for 3rd Straight Month
    Sales tax revenue is up in Fort Worth for the third straight month.

    Sales tax revenue is up three months in-a-row for Fort Worth and has jumped higher than anticipated, sparking hope of a reversal in the economy after many months of bad news.

    For August, the most recent month for which figures are available, sales tax revenue rose seven percent over 2009, exceeding projections.

    "We're optimistic about this," said city spokesman Jason Lamers. "Maybe this is a sign things are turning around."

    In July, sales tax figures jumped 25 percent, but much of the increase was due to a large, unexpected one-time payment from an energy company that was audited by the state comptroller. Even so, revenue still would have risen for the month, Lamers said.

    In June, sales tax revenue was up two percent.

    Fort Worth has projected a $31 million budget gap for the 2011 budget year, which runs from Oct. 2010 to Sept. 2011.

    Lamers said if sales tax revenue continues to increase, it could reduce the expected shortfall.