FORT SMITH, Ark — Fort Smith’s sales tax revenue stayed strong in May. Though it dipped a little from April, revenues are much higher than the same period in 2020. Sales tax revenues have consistently come in higher than estimated and higher than the corresponding month 12 months ago.
The city’s share of the Sebastian County sales tax totaled $1.683 million, according to the city’s May sales tax report, the third highest for the year. Collections were $1.946 million in April and 1.863 million in January. May’s revenue was up 21.92% compared to May 2020. Numbers in May’s report reflect April transactions. In the 2021 budget, the city budgeted $1.381 million, the same amount the sales tax generated in May 2020, so the revenue is up 21.92% from the budget.
“This is great news for the city and shows continued strength. 2021 has been a fantastic year for the city with three big job announcements/expansions, the foreign fighter mission announcement, the ACHE Research Institute, etc. Continued strength shows that companies and citizens are investing locally,” said Fort Smith City Director Neal Martin. “Because boards of the recent past were able to get our reserves healthy, it allowed the city to provide $5 million for the runway expansion from the foreign fighter” center.
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