Sales tax revenue up 2.5% over last year

first_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREWalnut’s Malik Khouzam voted Southern California Boys Athlete of the Week Sales of goods and services yield increases: Taxes jumped 7.6 percent in general retail; 4.3 percent in food products; 2.7 percent in transportation and 4.8 percent in construction sales. Business-to-business sales declined 7.8 percent during the same period. Still, the additional revenue will bolster city coffers for the 2005-06 fiscal year. Of the $70.5 million general fund budgeted for the 12 months beginning July 1, about $30.3 million is expected from sales tax. “This will keep us right on target in terms of our sales tax revenue for the current budget year,” Hernandez said. The city staff will revise the estimates in December to determine whether projections match economic reality, he said. SANTA CLARITA – The city tallied $6.58 million in sales tax revenue for the second quarter of 2005, a 2.5 percent increase over last year, officials said Friday. The sum, collected in the three-month period ending June 30, exceeded the $6.42 million from a year ago. It’s a boon for the city of Santa Clarita’s general fund, of which about 40 percent consists of sales tax revenues. The funds have paid for construction of new parks, additional sheriff’s deputies and infrastructure maintenance. “We’re pleased to note the increase in sales tax revenues in the second quarter,” city treasurer Darren Hernandez said. “These numbers reflect not only a growing community, but also a healthy economy in our city.” 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img read more