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3/24/2017 |
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Northwest Arkansas sales tax revenue rebounds in March |
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By Kim Souza
TBP
The March sales tax report was an improvement for the four largest cities in Northwest Arkansas with combined sales tax revenue of $5.119 million, up 18% from a year ago. Bentonville led the growth wtih a 27% gain.
The March revenue is generated from a 2% local tax on goods and services rendered in January, created a two month lag in the reporting. Half of the revenue collected goes toward reducing debt in the respective cities and the other 1% is funneled into each city's general budget. This report reflects the latter 1%. Following are March report numbers for the four cities:
Bentonville: $981,245, up 27.25%
Fayetteville: $1.595 million, up 12.68%
Rogers: $1.411 million, up 18.96%
Springdale: $1.131 million, up 17.84%
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