Northwest Arkansas sales tax revenue up almost 5% in recent report

BusinessNorthwest Arkansas

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

The four largest cities in Northwest Arkansas had combined sales tax revenue of $9.808 million in the recent report, up 4.67% from a year ago. Revenue growth slowed from gains of 5.19% reported in October and 5.89% growth in the September report.

Springdale led the pack with a gain of 6.11% in revenue reported this month. Revenue totaled $2.072 million, a gain of $119,393 over a year ago. Through the first 11 months of reports, Springdale’s sales tax revenue totals $22.723 million, up 3.94% from a year ago.

Rogers reported growth of 5.24% for the month with revenue totaling $2.662 million. The city reversed the 8.85% decline reported in October and is well below the gains of 8.17% and 6.91% reported in August and September, respectively. The Rogers sales tax revenue totals $28.194 million through November, surpassing the annual goal of $28.1 million. That compares to $26.668 million in the year-ago period, a gain of 5.72%.

Fayetteville reported revenue of $2.852 million in the November report, up 4.9% from a year ago and the best monthly gains reported this year. Fayetteville reports sales tax revenue totaling $29.446 million through the November report, up 1.05% compared with $29.138 million a year ago.

Bentonville reported the smallest gains among the four cities with revenue totaling $2.221 million for the month, up 2.42%. The gain is a marked improvement over the 16.82% deficit reported in October. The city has seen much slower growth amid large rebates and a tough comparison with annual growth of 26.56% last year. Bentonville’s sales tax revenue totals $23.657 million through the first 11 reporting months, down 10.47% from the $26.425 million reported a year ago.

REGIONAL SALES TAX (January-November)
Bentonville
2024: $23.657 million
2023: $26.425 million
down 10.47%

Fayetteville
2024: $29.446 million
2023: $29.138 million
up 1.05%

Rogers
2024: $28.194 million
2023: $26.668  million
up 5.72%

Springdale
2024: $22.723 million
2023: $21.861 million
up 3.94%