Northwest Arkansas sales tax revenue decline persists through July report

Northwest Arkansas Sees Persistent Decline in Sales Tax Revenue

For the latest report in July, sales tax revenue in Northwest Arkansas has continued its downward trend. The cumulative sales tax revenue for Bentonville, Fayetteville, Rogers, and Springdale decreased by 5.95%. This follows a consistent pattern as seen in previous months.

Each city in the region had varied performance. Bentonville experienced the sharpest decline, with sales tax revenue falling 28.31% from the previous year. This is partly attributed to the rebates paid to businesses located in the city. On the other hand, Rogers displayed a 4.19% increase, Springdale saw a 2.24% rise, and Fayetteville reported a moderate 1.54% growth.

The total year-to-date revenue for the four cities remains positive, with a combined sum of .159 million. This represents a 3.6% increase since last year. Despite these ups and downs, the cities are taking measures to manage their budgets and respond to these changes in sales tax revenue.

The decline in sales tax revenue for Northwest Arkansas cities contrasts with the state’s overall performance. Arkansas saw an almost million gain in sales tax revenue, which helped offset other revenue declines. However, overall tax revenue remains down 1.1% in the fiscal year compared to the previous year.

Both the local and state governments will closely monitor the revenue situation as the fiscal year comes to a close. While trends are volatile, these cities are adapting and preparing for the future.

  • Sales Tax Revenue Trends:
  • Bentonville: -28.31% from last year
  • Rogers: 4.19% increase from last year
  • Springdale: 2.24% increase from last year
  • Fayetteville: 1.54% increase from last year

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