Sales Tax Update

March collections were lower than hoped and relate strongly to national trends. The economic downturn has had significant impact on the sales and use tax collections, a major funding source for City services and programs.

• Sales Tax Total: $4,512,677 a decrease of 6.2% compared to March 2008. The collections are nearly $50,000 lower than the amount projected according to the sales tax
• Use Tax Total: $526,547 collections are down 40.9%. The City is behind budget projections for the month by $428,229.
• Building Permits: Residential 15, Remodels 61 in March 2008 there were 58 permits pulled, 71 remodels. Commercial permits: 1, remodels 22, in March 2008, there was 1 permit pulled, and 25 remodels. These numbers reflect a 51% decrease in Building Permit use tax receipts from 2008.
• Sales Tax Licenses: 109 net new sales tax licenses.