HomeMy WebLinkAbout2021 12 SALES TAX REPORT GENERAL
ADMINISTRATIVE SERVICES
M E M O R A N D U M
DATE: January 10, 2022
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: December 2021 Sales Tax Distribution (October 2021
Activity)
Monthly comparisons (December)
December sales tax receipts (for October 2021 activity) were $2.77 million which is $536k (24%) over December 2020 and
$456k (19.7%) over the December 2021 budget.
Year-to-date comparisons (December)
2021 is currently 6.2 million (23.5%) above 2020 and 4.7 million (16.8%) 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 2021-2022. 2021 has shown significant improvement
across all categories and all exceeding pre pandemic levels except for Manufacturing.
• General Retail – currently up 15.5% from 2020. All sectors within general retail are performing above 2020
including miscellaneous retail trade up 30.4% from 2020.
• Automotive – currently up 44.6% from 2020. Vehicle prices have increased this year due to the pandemic creating
low inventory and high demand.
• Services – currently up 19.3% from 2020. This sector is performing well above 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.