All that holiday spending paid off, NWA! In February's report - Bentonville, Fayetteville, Rogers and Springdale received over $8 million in sales tax revenue, increasing from $7.603 million in February of last year. Each city collects a local sales tax, and the February report reflects 1% of that tax, which flows into their operating budget.
Rogers reported the largest increase in revenue at $2.303 million from $2.102 million in 2020, a 9.57% growth. Impressively, Rogers also maintained its 2021 sales tax revenue budget of $19.9 million, which requires revenue of $1.666 million per month.
Springdale also started the year off right with a sales tax revenue up 7.37% in January and up again 7.32% in February. In this month's report, Springdale's sales tax revenue totaled a whopping $1.544 million - the highest on record for the city in February.
Fayetteville's STR rose 6.85% from 2020, and the city's STR through February totaled $4.72 million, up from $4.2 million reported a year ago.
Bentonville reported STR growth of 2.38% in February, with revenue totaling $1.847 million and a 49.16% increase in the revenue as well. January and February's revenue totals $3.396 million, a 13.3% increase from $2.997 million in 2020. -Talk Business & Politics