Northwest Arkansas sales tax revenue up almost 17%

by Kim Souza ([email protected]) 574 views 

Cumulative sales tax in Bentonville, Fayetteville, Rogers and Springdale was $9.371 million in the October report, up 16.93% from the year-ago period. The October sales reported in November were from transactions completed in September.

Regional sales tax revenue totals $72.99 million through November, up 20% from the year-ago because of the strong double-digit gains from Bentonville all year.

Bentonville posted robust gains of 97.06% in the November report. Monthly sales tax revenue totaled $2.169 million which was up sharply against the 36.88% decline reported a year ago.

Bentonville Mayor Stephanie Orman expects future rebates to offset some of the huge gains reported in three of the past five months. Through the first 11 months of reporting, Bentonville’s sales tax revenue totals $26.425 million, up 26.9% year over year and adding more than $5.6 million in extra revenue through November.

Rogers had sales tax revenue of $2.53 million, up 12.17% from the year-ago period. As one of the biggest retail centers in the region, Rogers has had solid results this calendar year with revenue totaling $26,668 million, up 8.63% from the same period last year and well ahead of the $24.9 million the city budgeted for the year.

Fayetteville and Springdale have seen slower growth than their sister cities in Benton County. Springdale reported a 1.77% decline in October’s sales tax revenue. Total revenue was $1.952 million. While Springdale was the only city among the four to report a decline, the losses were less than the 4.17% decrease reported in September. Springdale’s year-to-date sales tax revenue totals $21.861 million, up 3.87% from last year.

Mayor Doug Sprouse said the city remains in strong fiscal shape and the decline in sales tax revenue likely relates to mixed overall consumer spending in the macroeconomy. He said the city expected the slowdown and budgeted accordingly.

Fayetteville reported October sales tax growth of 1.85% with revenue totaling almost $2.72 million. The gains reversed a 2.5% decline in revenue reported last month. Year to date, Fayetteville reports sales tax revenue gains of 6.4% through the first 11 months of the year. The city budgeted for 7% growth this year and that’s slightly below the 10.49% revenue growth in 2022 or the 14.7% gains in 2021.

SALES TAX REVENUE (reported January – November)
2023: $26.426 million
2022: $20.843 million

2023: $29.137 million
2022: $27.384 million

2023: $26.668 million
2022: $24.548 million

2023: $21.861 million
2022: $21.045 million