HomeMy WebLinkAbout2025_01 SALES TAX REPORT GENERAL
$3.0M
Sales tax revenue collected through
January 2025 -1.7%
Overall decrease in sales tax over
same period prior year 27%
Represents Services and General
Retail, the two highest sales tax
industries YTD
Highlights:
• January month-to-date sales tax revenue (for November 2024 activity*) is $3.0 million, 5.1% above January
month-to-date budget.
• January 2025 sales tax revenue is $52K less than January 2024, primarily driven by the decrease in the
construction and manufacturing sectors.
• Industries with largest increase through the same period prior year:
o Wholesale Durable Goods: $52K
o Government: $47K
o Motor Vehicle & Parts Dealers: $41K
• Industries with largest decrease through same period prior year:
o Construction of Buildings: $(74)K
o Transportation Equipment: $(65)K
o Special Trade Contractor: $(43)K
CITY OF RENTON SALES TAX SUMMARY January 2025
*state remits to city on 2-month lag
$ %$%
General Retail 833 819 793 841 (48) -5.7% (27) -3.3%
Construction 375 468 343 340 3 0.8% (126) -26.8%
Services 834 776 805 711 94 13.3% 29 3.8%
Automotive/Gas 499 494 537 522 14 2.7% 43 8.6%
Manufacturing 223 225 153 197 (44) -22.4% (73) -32.3%
Wholesale 142 141 185 137 48 35.2% 44 31.4%
Miscellaneous 109 91 148 71 77 109.0% 57 62.2%
Total Retail Sales Tax 3,016$ 3,015$ 2,963$ 2,819$ 144$ 5.1% (52)$ -1.7%
Sales Tax - Budget to Actual Comparison
YTD thru January
in thousands
2023
YTD
2024
YTD
2025
YTD Budget
Over/(Under)
YTD Budget
Increase/(Decrease)
from Prior Yr2025
YTD
