HomeMy WebLinkAbout2022 06 SALES TAX REPORT GENERALADMINISTRATIVE SERVICES
M E M O R A N D U M
DATE:
TO:
CC:
FROM:
SUBJECT:
June 30, 2022
Ryan McIrvin, Council President
Members of Renton City Council
Armondo Pavone, Mayor
Ed VanValey, Chief Administrative Officer
Fred Hall, Tax & Licensing Manager
June 2022 Sales Tax Distribution (April 2022 Activity)
Monthly comparisons (June)
June sales tax receipts (for April 2022 activity) were $3.2 million which is $631K (32.1%) over June 2021 and $917k
(40.8%) over the June 2022 budget.
Year‐to‐date comparisons (June)
2022 is currently $2.6 million (17.3%) above 2021 and $3.6 million (24.8%) over the annualized budget. See the five‐year‐
to‐date comparison and the historical trend information below:
Year‐to‐year comparison between 2021 and 2022 will be impacted by COVID‐19. 2022 has shown a continuous and
stabilizing growth across all categories and all exceeding pre pandemic levels.
Manufacturing – the manufacturing sector is up $429K (55.9%) over 2021 and $321K (36.8%) over budget.
Services – currently up 18.3% from 2021.
General Retail – currently up 7.8% from 2021.
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.