Sales tax revenue continues to grow in Springdale

Springdale's sales tax revenues continued to climb as Rogers and Fayetteville held steady and Bentonville dipped compared to last July.

Sales tax amounts the cities receive from the state in July are collected in May. This report tracks a 1 percent sales tax that goes to general funds.

Sales tax revenue has been growing in Springdale, said Wyman Morgan, financial services director.

"We're almost back to where we were in 2006, 10 years ago," he said.

The city brought in $1,024,501 in sales tax last July compared to this month when the city brought in $1,129,966. It's a 10.3 percent increase of $105,465. It's also the first month Springdale exceeded what it was getting in 2006, the best year the city has had, Morgan said. The city brought in $1,045,869 in July 2006, Morgan said.

The city opened a Neighborhood Market this year and a Walmart Supercenter last year.

Sales tax revenue grew 12.8 percent between January to July as compared to the same period last year. The city collected $6,313,741 in sales tax through July 2014 compared to $7,119,402 during the same period this year.

It's a trend Morgan doesn't expect to end. Recreation options developing in Springdale will draw more residents, which means more homes, Morgan said. More homes build more jobs and that growth drives the local economy.

"Springdale is growing just everywhere," Morgan said. "We're happy about it."

Financial heads for other cities were also excited about growth.

Bentonville's sales tax revenue dropped 11. 3 percent, or $114,228, between July 2014 when the city brought in $1,010,915 in sales tax and this July when the city brought in $896,687.

That isn't a slump, said Denise Land, Bentonville finance director.

"I think it's just the number we're comparing it to," Land said.

The million dollar 2014 month was record setting, Land said. This month's revenue is the third strongest showing of the year, and the only one where this year's revenue was less than the same month the year before, she said.

City sales tax revenue collected between January to July of this year is stronger than last year by 10.5 percent. Last year the city took in $5,684,049 in sales tax through July 2014 compared to $6,282,928 during the same period this year.

Fayetteville's sales tax revenue has been up each month this year compared to last year, said Paul Becker, finance director.

Fayetteville had a 3.1 percent increase between July 2014 when the city brought in $1,572,588 in sales tax and this July when the city brought in $1,621,070. The difference was $48,482.

There have been some new restaurants, but the growth is in the sales not the buildings, Becker said.

"Ours is a smaller but more steady growth," Becker "We're more the day-to-day family shopper."

A comparison of sales tax from January to July between the two years shows $10,523,943 in sales tax received through July 2014 compared to $11,231,942 during the same period this year, a 6.7 percent increase.

Sales tax revenue in Rogers was virtually flat with a .3 percent increase, or a $3,737 difference, between July 2014 when the city brought in $1,328,447 in sales tax and this July when the city brought in $1,332,184.

There were no new large box stores compared to last year at the same time, said Casey Wilhelm, director of finance for the city. The city has more shoppers and more large events drawing people to local stores, she said.

Rogers had a 7.1 percent increase between January to July of this year and last year with $8,599,063 collected in sales tax through July 2014 compared to $9,210,950 during the same period this year.

Her latest projection has the city hitting $15.5 million in general fund sales tax from this year. Last year the city took in $14.9 million, Wilhelm said.

"We're really way ahead of budget," Wilhelm said.

NW News on 07/23/2015