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Taxable Sales Declined in Alameda Again, for the Most Recent Quarter

Tonight, Alameda City Council will review and accept the quarterly sales tax report for the three months ended December 31, 2009. The quarter realized a 4.1% decline in sales tax revenue from the same quarter in the prior year; the previous quarter, ended September 30, 2009, saw a decrease of 16.2% in sales tax revenue compared to the prior year. The City of Alameda realizes around $5 million each year in sales tax revenue, typically representing the fourth largest source of revenue for the City’s General Fund.

Sales tax revenue in the General Consumer Goods category increased by 23.2% in the 4th quarter of 2009, compared to the same quarter in 2008. The Transportation & Fuel category was down 19% The Park – South of Lincoln neighborhood, where the Alameda Theater & Cineplex and Civic Center Parking Garage are located, saw a 21.3% decline in sales tax revenue while Harbor Bay Business Park enjoyed a 176.8% increase, attributable to the Business and Industry (formerly reported as Business-to-Business) category. Businesses that sell to other businesses generate sales tax revenue for the City, not only retail stores. The Alameda Theater neighborhood’s share of overall sales tax revenue stayed flat at 10.4%

In total, the City of Alameda received $1.4 million in sales tax revenue in the last quarter of 2009, and as of March 31, 2010, fiscal year sales tax revenues were $3.3 million, or 63% of the $5.1 million project for fiscal year 2009-10. The City’s fiscal year ends on June 30th.

The chart below shows the year-over-year change in sales tax revenue for the Park Street – South of Lincoln neighborhood of Alameda, where the Alameda Theater is located. The green bar indicates the quarter when the Civic Center Parking Garage opened.

Year-Over-Year Change in Sales Tax Revenue for Alameda Theater Neighborhood

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