Northwest Arkansas sales tax revenue rose 7.57% in June report
by June 26, 2023 2:23 pm 689 views
Consumers in Benton and Washington counties continue to spend on goods and services with sales tax revenue in the four largest cities up 7.57% in the June report compared to a year ago.
Combined revenue in Bentonville, Fayetteville, Rogers and Springdale from the April sales reported in June was $9.349 million, more than $658,000 over the same month last year. Bentonville led the growth in the June report with revenue of $2.397 million, up 11.9% from a year ago. Bentonville has seen double-digit gains each month this year through June.
“We see that investing and spending in Bentonville remains strong despite the inflationary pressures. Our strongest gains remain in retail and food and services. Tourism continues to be dominant in our community. This is no surprise with the investments that have been made in infrastructure, arts, dining, biking, aviation and recreational amenities that enhance the quality of life in Bentonville,” Bentonville Mayor Stephanie Orman told Talk Business & Politics.
She said the city has seen steady growth this year and she remains optimistic that will continue as Bentonville continues to be a destination spot for visitors and those who are moving to the area to make Northwest Arkansas their home. Through the first six monthly reports of this year Bentonville’s sales tax revenue totaled $13.658 million, up 18.48% year over year.
Springdale is also seeing higher sales tax revenue. The city reported sales tax revenue of $2.001 million in the June report, up 7.93% from a year ago. Revenue also rebounded from the near-flat report last month. Through the June reports Springdale collected sales tax revenue of $11.671 million, up 8.17% year over year.
Fayetteville’s tax revenue rose to $2.693 million reported in June for an annual gain of 6.08%. Fayetteville’s sales tax revenue reported through June totaled $15.722 million up from $14.437 million, or a gain of 8.9% year over year.
The city of Rogers had the smallest growth in the group with $2.31 million reported in June, up 4.84% from a year ago. Despite having its sales tax revenue growth decline month-to-month since earlier this year, the city has still managed to exceed its goal of $2.075 million each month reported thus far in 2023.
Rogers’ sales tax revenue in the six months totaled $13.909 million, up 7.71% from $12.913 million a year ago.