HomeMy WebLinkAbout2022 01 SALES TAX REPORT GENERAL (2)ADMINISTRATIVE SERVICES
M E M O R A N D U M
DATE:
TO:
CC:
FROM:
SUBJECT:
April 28, 2022
Ryan McIrvin, Council President
Members of Renton City Council
Armondo Pavone, Mayor
Ed VanValey, Chief Administrative Officer
Nuri Song, Tax Auditor
January 2022 Sales Tax Distribution (November 2021
Activity)
Monthly comparisons (January)
January sales tax receipts (for November 2021 activity) were $2.88 million which is $581K (25.3%) over January 2021 and
$651k (29.2%) over the January 2022 budget.
Year-to-date comparisons (January): Not applicable for January distribution.
COVID-19 will continue to influence the sales tax figures throughout 2021-2022. Restrictions and limitations have caused
businesses to suffer financially and affected the consumer behaviors.
•Manufacturing – currently up 214% from 2021 with the highest increase being the Transportation Equipment
sector which saw an increase of 317% compared to this time last year.
•Construction – currently up 26.6% from 2021. All sectors within construction have seen an increase compared to
this time last year.
•Automotive – currently up 25% from 2021. This sector is performing above anticipated levels.
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.