Fort Smith’s city sales tax revenue was up 3.1 percent for the month of June compared to the same period last year.
It was also an improvement over May’s sales tax receipts, which were up just 0.4 percent from the previous May.
July’s city sales tax report is expected to be completed around Aug. 24.
According to Fort Smith Finance Director Jennifer Walker’s latest sales tax report, receipts are up 4.3 percent above the revised budget for the month but year-to-date figures are 0.4 percent below last year and just 1 percent above the revised budget year-to-date figure.
The total year-to-date revenue on the street, bond, park/fire portion of the sales tax is $213,990 more than the revised budget estimate.
Fort Smith’s sales tax is 9.75, with 6.5 percent of that going to the state and 1.25 percent to the county. Fort Smith gets a portion of the 1.25 percent based on the population of the county.
Fort Smith’s share of the county sales tax for June was 3.5 percent more than last June and 4.6 percent above revised budget for the month. The city’s share of county sales tax revenue year to date is 0.2 percent above 2017 year-to-date figures and 1.1 percent above the revised budget year-to-date. The total revenue to date is $89,145 more than the revised budget estimate, Walker noted.
“Overall, we see a moderate improvement in sales tax figures in June,” Walker stated in her report. “One month does not make a trend, but we are pleased with the progress, and will continue to monitor trends closely.”
Franchise fees are 17 percent below budget — however, the fees are 1.7 percent above budget when adjusted for timing of payments, the report adds.
Property taxes year-to-date are $4.6 million, which is about 14% above budget when adjusted for timing of payments, the report notes.
Water and sewer usage increased in June by 4.2 percent over last June. However, year-to-date usage is 2.7 percent below last year. This trend continues to improve in the second quarter, Walker noted.