HomeMy WebLinkAbout2022 11 SALES TAX REPORT GENERAL$%$%
General Retail 7,470 8,745 9,538 9,054 484 5.3% 793 9.1%
Services 6,111 7,315 8,770 7,601 1,169 15.4% 1,455 19.9%
Automotive/Gas 4,319 6,321 6,754 5,881 873 14.8% 433 6.8%
Construction 2,803 3,614 4,040 4,321 (281) ‐6.5% 426 11.8%
Wholesale 1,529 1,536 2,294 1,757 537 30.5% 758 49.4%
Manufacturing 1,352 1,443 1,867 1,810 58 3.2% 425 29.4%
Misc 638 919 1,011 833 178 21.3% 92 10.1%
Total Retail Sales Tax 24,222$ 29,893$ 34,274$ 31,257$ 3,017$ 9.7% 4,381$ 14.7%
Sales Tax ‐ Budget to Actual Comparison
YTD thru November
Over/(Under)
YTD Budget
Increase/(Decrease)
from Prior Yr
2022
YTD Budget
2022
YTD
2021
YTD
in thousands
2020
YTD
$34.3M
Sales tax revenue collected through
November 2022
14.7%
Overall increase in sales tax over same
period prior year
28%
Represents General Retail, the highest sales
tax industry YTD
Highlights:
November month‐to‐date sales tax revenue (for September 2022 activity*) is $3.3 million, 10.9% above
November month‐to‐date budget.
November 2022 sales tax revenue is $302K higher than November 2021, primarily driven by increases from
services and wholesale sectors.
Industries with largest increase from the same period prior year:
o Wholesale Durable Goods: $659K
o Misc. Retail Trade: $549K
o Food Service & Drinking Places: $546K
Industries with largest decrease from same period prior year:
o Health & Personal Care: $(170)K
o Ambulatory Medical/Healthcare Services: $(156)K
o Sporting Goods, Hobby, Books: $(110)K
CITY OF RENTON
SALES TAX SUMMARY
November 2022
*state remits to city on 2‐month lag