HomeMy WebLinkAbout2022 12 SALES TAX REPORT GENERAL
$37.5M
Sales tax revenue collected through
December 2022
14.9%
Overall increase in sales tax over same
period prior year
28%
Represents General Retail, the highest sales
tax industry YTD
Highlights:
December month‐to‐date sales tax revenue (for October 2022 activity*) is $3.2 million, 15.0% above December
month‐to‐date budget.
December 2022 sales tax revenue is $473K higher than December 2021, primarily driven by increases from
services and wholesale sectors.
Industries with largest increase from the same period prior year:
o Misc. Retail Trade: $664K
o Wholesale Durable Goods: $651K
o Food Service & Drinking Places: $590K
Industries with largest decrease from same period prior year:
o Health & Personal Care: $(155)K
o Ambulatory Medical/Healthcare Services: $(152)K
o Sporting Goods, Hobby, Books: $(113)K
CITY OF RENTON
SALES TAX SUMMARY
December 2022
*state remits to city on 2‐month lag
$%$ %
General Retail 8,173 9,442 10,317 9,845 471 4.8% 875 9.3%
Construction 3,094 3,948 4,449 4,703 (254) -5.4% 502 12.7%
Services 6,696 7,990 9,673 8,293 1,380 16.6% 1,682 21.1%
Automotive/Gas 4,735 6,848 7,435 6,398 1,037 16.2% 587 8.6%
Manufacturing 1,398 1,667 2,013 1,996 17 0.9% 346 20.7%
Wholesale 1,645 1,752 2,506 1,924 581 30.2% 753 43.0%
Miscellaneous 711 1,012 1,122 916 206 22.4% 110 10.9%
Total Retail Sales Tax 26,453$ 32,660$ 37,515$ 34,076$ 3,439$ 10.1% 4,855$ 14.9%
Sales Tax ‐ Budget to Actual Comparison
YTD thru December
in thousands
2020
YTD
2021
YTD
2022
YTD
2022
YTD Budget
Over/(Under)
YTD Budget
Increase/(Decrease)
from Prior Yr