Northwest Arkansas sales tax revenue up 2.53% in August report 

BusinessNorthwest ArkansasRetail

by Kim Souza ([email protected]) ago 68 views 

Cumulative sales tax revenue in Bentonville, Fayetteville, Rogers and Springdale totaled $9.958 million in the August report, up 2.53% compared with the same period in 2023. Year-to-date revenue in the four cities is $74.65 million, down $532,000 from the same 2023 period.

Rogers led its sister cities with an 8.17% revenue gain reported in August. Revenue totaled $2.781 million for the month. Through the first eight months of this year, revenue reported by Rogers totaled $20.411 million, up 7.74% from a year ago. Those results were offset with deductions of $1.093 million, the city reports. Rogers’ sales tax revenue is running slightly ahead of budget projections with five reporting months to go in 2024.

Springdale also reported revenue of $2.211 million, up 7.56% from a year ago. For the first eight months of this year, Springdale reports revenue of $16.312 million, up 3.32%, or $525,000. Mayor Doug Sprouse said he expects revenue to slow later in the year but is happy with modest growth reported through the August report.

Bentonville has been the city with the largest deficits year over year, largely because of rebates. Last month, Mayor Stephanie Orman said rebates had offset revenue by nearly $5 million. In the August report, Bentonville’s revenue totaled $2.271 million, down 5.96% from the year-ago period. Year-to-date, Bentonville’s sales tax revenue totals $16.705 million, down 13.56% from the same period in 2023.

Fayetteville revenue of $2.693 million, up 0.9%. The fractional growth reversed the 2.82% deficit reported in July. For the first eight months of this year, Fayetteville’s sales tax revenue totaled $21.221 million, up 0.47% from the year-ago period. City officials budgeted 4%-5% growth for the full year.

REGIONAL SALES TAX (January-August)
Bentonville
2024: $16.705 million
2023: $19.327 million
down 13.56%

Fayetteville
2024: $21.221 million
2023: $21.123 million
up 0.47%

Rogers
2024: $20.411 million
2023: $18.944 million
up 7.74%

Springdale
2024: $16.312 million
2023: $15.787 million
up 3.32%