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CITY OF BARTLETTCOMMUNITY DASHBOARD |
Status Indicators for Most Recently Reported Results: On Target | Caution | Below Plan | No Information
| Actual | Target | Results for |
Goal:
Exceed elastic tax revenue benchmark of 45% annually
| 45.32% | 45.00% | FY25 |
Definition
Sales tax is an excellent example of elastic tax revenue. This form of revenue can fluctuate drastically based on market patterns. Those instabilities can significantly impact budget forecasts in declining markets and enhance financial stability during thriving economic times. The City of Bartlett strives to remain financially stable. Therefore, monitoring this economic pattern and seeking to expand quality retail offerings in the community is vitally important to the City's financial future.
Analysis
As described, sales tax revenue is elastic and fluctuates based on economic changes. Over the last several years, this revenue has been around 45% at year-end. In Fiscal Year 2024, over 44.27% of total revenue was accounted for as elastic tax revenue, a moderate decrease compared to Fiscal Year 2023. In Fiscal Year 2025, elastic revenue accounted for 45.32% of total revenue, which is approximately 1.05% above last year's totals. As the City of Bartlett seeks to attract new businesses, this revenue source is anticipated to grow in the near future.
