Northwest Arkansas sales tax revenue slides 5.19% in October report 

BusinessNorthwest ArkansasRetail

by Kim Souza ([email protected]) ago 0 views 

Fayetteville, Springdale, Rogers and Bentonville together reported sales tax revenue of $9.648 million in the October report, down 5.19%, compared with a year ago. Year-to-date the four cities report sales tax revenue of $95.213 million, down 0.53% from a year ago.

In the monthly report, Springdale posted the best results with revenue totaling $2.176 million, up 5.25%. Mayor Doug Sprouse said Springdale is somewhat protected from the highs and lows results of its sister cities that have larger brick and mortar retail centers. Springdale’s sales tax revenue for the first 10 reporting months of this year equals $20.651 million, up 3.73% from a year ago.

Fayetteville, the largest city in the region when counting University of Arkansas students, reported sales tax revenue growth at 1.82% for the month, compared to a year-ago. At $2,78 million, the city reversed the 2.5% decline it reported October 2023. Through the 10-months of reports this year, Fayetteville’s sales tax revenue totals $26.593 million, up 0.66% from $26.417 million reported a year ago.

Rogers reported sales tax revenue of $2.496 million for the month, down 8.85% from a year ago, a tough comparison against 18.68% gains reported in October 2023. Through the first 10 months of this year, Rogers reports sales tax revenue totaling $25.532 million, up from $24.464 million a year ago, or a gain of 4.36%.

Bentonville has seen the most ups and downs this year with regard to sales tax revenue. The city reported monthly revenue of $2.194 million in October, down 16.82% from a year ago. The same month last year, Bentonville reported a 48.19% gain in sales tax revenue creating in tough year-over-year comparison. Bentonville reports revenue totaling $21.436 million, down 11.62% or $2.82 million.

REGIONAL SALES TAX (January-October)
Bentonville
2024: $21.436 million
2023: $24.256 million
down 11.62%

Fayetteville
2024: $26.593 million
2023: $26.417 million
up 0.66%

Rogers
2024: $25.532 million
2023: $24.464  million
up 4.36%

Springdale
2024: $20.651 million
2023: $19.908 million
up 3.73%