Northwest Arkansas sales tax revenue up almost 17% – Talk Business & Politics

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The combined sales tax in Bentonville, Fayetteville, Rogers and Spriddale was $9.371 million in the October report, a 16.93 percent increase over the previous period. The October sales reported in November were derived from transactions completed in September.

State sales tax revenue hit $72.99 million in November, up 20% from last year.

Bentonville posted a strong 97.06% gain in the November report. Monthly sales tax revenue totaled $2.169 million, a significant increase from the 36.88% decline recorded a year ago.

Bentonville Mayor Stephanie Orman anticipates some of the biggest gains reported in three of the last five months. In the first 11 months of reporting, Bentonville’s sales tax revenue totaled $26.425 million, up 26.9% year-over-year and adding more than $5.6 million in additional revenue through November.

Rogers had sales tax revenue of $2.53 million, an increase of 12.17% compared to the previous period. Rogers, one of the region’s largest retail centers, posted strong results this calendar year with total revenue of $26,668 million, up 8.63% from the same period last year and $24.9 million more than the city budgeted for the year.

Fayetteville and Springdale saw slower growth than their sister cities in Benton County. Springdale reported a 1.77% decrease in sales tax revenue in October. His total earnings were $1.952 million. While Springdale was the only city of the four to report a decline, the loss was smaller than the 4.17 percent decline recorded in September. Springdale’s year-to-date sales tax revenue totaled $21.861 million, an increase of 3.87 percent over last year.

Mayor Doug Sprouse said the city is in strong fiscal shape and that the decline in sales tax revenue could be related to overall consumer spending in the macro economy. He said the city anticipated the slowdown and budgeted accordingly.

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

Sales tax revenue (reported from January to 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

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