HomeMy WebLinkAbout2023 01 SALES TAX REPORT GENERAL
$3M
Sales tax revenue collected through
January 2023
4.6%
Overall increase in sales tax over same
period prior year
28%
Represents General Retail and Services, the
highest sales tax industries YTD
Highlights:
• January month-to-date sales tax revenue (for November 2022 activity*) is $3 million, 13.6% above January
month-to-date budget.
• January 2022 sales tax revenue is $134K higher than January 2022, primarily driven by increases from General
Retail and Services sectors.
• Industries with largest increase from the same period prior year:
o Misc. Retail Trade: $122K
o Hospitals: $62K
o Food Service & Drinking Places: $40K
• Industries with largest decrease from same period prior year:
o Transportation Equipment: $(90)K
o Electronics & Appliances: $(71)K
o Motor Vehicle & Parts Dealers: $(59)K
$%$%
General Retail 781 820 833 800 32 4.1%12 1.5%
Construction 217 275 375 331 44 13.3%101 36.7%
Services 580 662 834 635 199 31.4%172 26.1%
Automotive/Gas 445 557 499 505 (6) -1.1%(58) -10.4%
Manufacturing 101 318 223 183 40 21.9%(95) -30.0%
Wholesale 107 164 142 134 8 5.8%(22) -13.7%
Miscellaneous 68 85 109 66 43 65.3%24 28.4%
Total Retail Sales Tax 2,301$ 2,882$ 3,016$ 2,655$ 361$ 13.6%134$ 4.6%
Sales Tax - Budget to Actual Comparison
YTD thru January
in thousands
2021
YTD
2022
YTD
2023
YTD Budget
Over/(Under)
YTD Budget
Increase/(Decrease)
from Prior Yr2023
YTD
CITY OF RENTON
SALES TAX SUMMARY
January 2023
*state remits to city on 2-month lag