HomeMy WebLinkAbout2021 11 SALES TAX REPORT GENERAL
ADMINISTRATIVE SERVICES
M E M O R A N D U M
DATE: December 15, 2021
TO: Randy Corman, Council President
Members of Renton City Council
CC: Armondo Pavone, Mayor
Ed VanValey, Chief Administrative Officer
FROM: Fred Hall, Tax & Licensing Manager
SUBJECT: November 2021 Sales Tax Distribution (September 2021
Activity)
Monthly comparisons (November)
November sales tax receipts (for September 2021 activity) were $3 million which is $690k (29.5%) over November 2020
and $561k (22.8%) over the November 2021 budget.
Year‐to‐date comparisons (November)
2021 is currently 5.7 million (25.9%) above 2020 and 4.2 million (18.3%) over the annualized budget. See the five‐year‐
to‐date comparison and the historical trend information below:
COVID‐19 will continue to influence the sales tax figures throughout 2020 – 2021 due to declines in 2020. 2021 has shown
significant improvement across nearly all categories nearly all at or exceeding pre pandemic levels with the exception of
manufacturing and construction which can be heavily influenced by large projects.
General Retail – currently up 7.0% from 2020.
Automotive – currently up 33.5% from 2020. Demand for cars has bounced back from last year, and this sector
has seen significant inflation driving prices higher.
Services – currently up 33.5% from 2020. This sector performing well above anticipated levels and has far
exceeded pre pandemic figures.
The annual budget‐by‐sector has been based upon the average of the previous five years proportionate to the overall
receipts. The monthly budget‐by‐sector is based upon the five‐year average by month, proportionate to the annual totals.
Please see the attached pages for detailed information.
2021 YTD
$ diff % diff $ diff % diff
General Retail 7,711,534 7,755,414 8,000,631 8,172,977 8,745,130 7,354,741 1,390,388.70$ 18.9% 572,153.48$ 7.0%
Construction 4,246,126 4,585,841 3,751,460 3,094,016 3,613,856 3,849,350 (235,494.36)$ ‐6.1% 519,839.17$ 16.8%
Services 5,884,292 6,855,309 7,178,122 6,696,450 7,315,305 6,083,632 1,231,673.38$ 20.2% 618,855.62$ 9.2%
Automotive/Gas 4,775,263 5,118,532 5,220,618 4,735,375 6,321,496 4,661,734 1,659,762.21$ 35.6% 1,586,120.93$ 33.5%
Manufacturing 1,550,359 1,849,806 1,862,673 1,397,839 1,442,654 1,592,183 (149,529.27)$ ‐9.4% 44,815.01$ 3.2%
Wholesale 1,405,676 1,571,217 1,654,800 1,645,489 1,535,530 1,448,531 86,998.48$ 6.0% (109,959.67)$ ‐6.7%
Miscellaneous 758,384 692,516 650,275 710,691 918,781 658,390 260,391.01$ 39.5% 208,089.97$ 29.3%
YTD Total 26,331,634 28,428,635 28,318,580 26,452,836 29,892,751 25,648,561 4,244,190.15$ 16.5% 3,439,914.51$ 13.0%
Annual total 26,331,634 28,428,635 28,318,580 26,452,836 29,892,751 27,959,932 1,932,818.99$ 6.9% 3,439,914.51$ 13.0%
*Bolded figure in each sector is the highest YTD of the five years shown
Sector 2021 Actual/Budget2021 YTD
Budget
2021 ‐ 2020 YTD2017 YTD
Actual
2018 YTD
Actual
2019 YTD
Actual
2020 YTD
Actual