Consumers continue to spend in Northwest Arkansas. The region’s four largest cities reported combined sales tax revenue through December rose 5.9% to $66.072 million. Each of the four cities collected more revenue from January through December 2017 than in the prior year.
Sales tax revenue (January-December)
• Bentonville: $11.956 million, up 5.8%
• Fayetteville: $21.245 million, up 3.19%
• Rogers: $18.394 million, up 6.5%
• Springdale: $14.476 million, up 9.75%
As the region’s population and economy continues to grow, sales tax revenue also increases. The region has seen sales tax revenue grow each of the past five years with the cities also benefiting from retail expansion and investments such as the Razorback Greenway, Scott Family Amazeum and Walmart AMP that bring visitors into the region seeking entertainment and recreation.
Following is the combined sales tax revenue collected by the four cities since 2012.
2017: $66.072 million, up 5.98%
2016: $62.338 million, up 4.39%
2015: $59.716 million, up 9.47%
2014: $54.547 million, up 3.16%
2013: $52.876 million, up 5.6%
2012: $50.072 million
City managers and mayors across the region have told Talk Business & Politics in recent months the cities are in good financial shape with the revenue collected this year against their budgeted expenses. Each mayor will hold their state of the city addresses in early 2018.
Northwest Arkansas sales tax revenue in the December report rose to $5.349 million, up 1.84%. Revenue was flat in Fayetteville, but the other three cities saw gains. December revenue reflects the sale of goods and services in October. Each city collects a 2% local sales tax of which half goes toward debt reduction and the other 1% goes into city operating budgets. This report reflects the latter 1%.
• Bentonville: $959,381 up 2.83%
• Fayetteville: $1.714 million, down 0.81%
• Rogers: $1.473, up 1.27%
• Springdale: $1.203 million, up 5.81%