HomeMy WebLinkAbout2023_04 SALES TAX REPORT GENERAL
$12.2M
Sales tax revenue collected through
April 2023
5.9%
Overall increase in sales tax over
same period prior year
27%
Represents General Retail and
Services, the highest sales tax
industries YTD
Highlights:
April month‐to‐date sales tax revenue (for February 2023 activity*) is $2.8 million, 19.9% above April month‐to‐
date budget.
April 2022 sales tax revenue is $118K higher than April 2022, primarily driven by increases from General Retail
and Services sectors.
Industries with largest increase through the same period prior year:
o Construction of Buildings: $458K
o Food Service & Drinking Places: $301K
o Misc Retail Trade: $243K
Industries with largest decrease through same period prior year:
o Motor Vehicle & Parts Dealers: $(297)K
o Non Store Retailers: $(170)K
o Publishing Industries: $(64)K
$%$ %
General Retail 3,028 3,233 3,256 3,139 117 3.7% 23 0.7%
Construction 1,138 1,193 1,675 1,369 306 22.4% 481 40.3%
Services 2,506 2,861 3,333 2,693 641 23.8% 473 16.5%
Automotive/Gas 1,972 2,326 2,033 2,015 18 0.9% (293) ‐12.6%
Manufacturing 541 857 850 721 129 17.8% (7) ‐0.8%
Wholesale 464 740 702 569 133 23.3% (39) ‐5.2%
Miscellaneous 291 334 378 278 100 36.1% 44 13.2%
Total Retail Sales Tax 9,939$ 11,544$ 12,226$ 10,783$ 1,444$ 13.4% 682$ 5.9%
Sales Tax ‐ Budget to Actual Comparison
YTD thru April
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
April 2023
*state remits to city on 2‐month lag