HomeMy WebLinkAbout2025_05 SALES TAX REPORT GENERAL
$15M
Sales tax revenue collected through May
2025
-4.4%
Overall decrease in sales tax over same
period prior year
28%
Represents Services, the highest sales
tax industries YTD
Highlights:
•May month-to-date sales tax revenue (for March 2025 activity*) is $3.2 million, 4.2% above May month-to-
date budget.
•May 2025 sales tax revenue is $107K more than May 2024, primarily driven by the increase in the automotive
and wholesale sectors.
•Industries with largest increase through the same period prior year:
o Wholesale Non-durable: $115K
o Hotels/Motels: $111K
o Wholesale Durable Goods: $80K
•Industries with largest decrease through same period prior year:
o Construction of Buildings: $(305)K
o Transportation: $(298)K
o Furniture, Home Furnishings, Electronics, and Appliance: $(135)K
CITY OF RENTON
SALES TAX SUMMARY
May 2025
*state remits to city on 2-month lag
$ %$%
General Retail 4,032 3,987 3,791 4,082 (291) -7.1% (196) -4.9%
Construction 2,086 2,248 1,740 1,772 (31) -1.8% (507) -22.6%
Services 4,180 4,166 4,186 3,697 489 13.2%20 0.5%
Automotive/Gas 2,574 2,655 2,714 2,705 9 0.3%59 2.2%
Manufacturing 1,032 981 908 900 9 0.9% (73) -7.4%
Wholesale 889 916 1,105 863 242 28.0%190 20.7%
Miscellaneous 466 762 577 405 172 42.5% (185) -24.3%
Total Retail Sales Tax 15,260$ 15,714$ 15,023$ 14,424$ 599$ 4.2% (692)$ -4.4%
Sales Tax - Budget to Actual Comparison
YTD thru May
in thousands
2023
YTD
2024
YTD
2025
YTD Budget
Over/(Under)
YTD Budget
Increase/(Decrease)
from Prior Yr2025
YTD