The four largest cities in Northwest Arkansas reported strong sales tax growth though 2018. Bentonville, Fayetteville, Rogers and Springdale reported cumulative sales tax revenue through December of $72.99 million, up by 10.47% from a year ago.
December revenue was also strong across the board, with the biggest gains coming from Bentonville. The smallest city in the group reported sales tax revenue growth of 45.99%, capping off a banner year as more businesses open and grow in the city.
Each city collects 2% local sales tax and half of that money goes toward debt retirement. The other 1% funnels into the city’s operating budget. This report reflects the latter. December revenue related to sales in October, creating a two-month lag in the data.
· Bentonville, $1.4 million, up 45.99%
· Fayetteville, $1.83 million, up 7.05%
· Rogers, $1.55 million, up 5.89%
· Springdale, $1.29 million, up 7.28%
October represents craft fairs, the height of Arkansas Razorback football games as well as several conventions bringing more tourists to the region.
Read more: https://talkbusiness.net/2018/12/nwa-sales-tax-revenue-growth-tops-10-4-in-2018/