The City of Springdale received February sales tax revenue this month, which was a 22.64% increase over sales tax revenue generated in February 2015. The total sales tax revenue received from February sales was $1,121,625.07, compared to $914,547.51 generated in February of last year.
"This sales tax increase highlights the importance of shopping local," said City Administrative and Financial Services Director Wyman Morgan. "City sales tax revenue benefits the community by funding the Capital Improvement Fund, repaying bonds and putting more money into the General Fund."
The Capital Improvement Fund has helped pay for road and drainage improvements, the new Walter Turnbow Park, water fountains, trailheads on the Razborback Greenway, in addition to funding the remaining renovations for Murphy Park and many other important City projects that improve the quality of life for Springdale residents.
Sales tax revenue is based on point-of-delivery sales in Springdale. The highest generators of sales tax in Springdale are general merchandise stores, followed by full-service restaurants, and building materials and supplies dealers. Grocery stores are the fourth largest sales tax generators in the city.