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Alameda City Council to Receive Sales Tax Report Tomorrow

For taxable transactions from July 1 through September 30, 2013, the City of Alameda realized $1.7 million in sales tax revenue.

For taxable transactions from July 1 through September 30, 2013, the City of Alameda realized $1.7 million in sales tax revenue.

Alameda City Council will receive a sales tax report tomorrow night, for taxable transactions from July 1 through September 30, 2013, which shows that sales tax revenue was essentially flat from the same period the prior year.

Revenue increased just 1 percent, or $19,232, over the same quarter in the prior year, to $1,682,571.

Sales tax is the fourth largest source of revenue for the City of Alameda’s General fund, representing roughly 7 percent of budgeted revenue for the 2013 to 2014 fiscal year, which ends June 30th.

The top 25 businesses in Alameda generated just over half of the sales tax revenue in the reported quarter.

Harbor Bay Business park, with business-to-business sales tax revenue is a leading source of sales tax, generating 23 percent of the total for the quarter; South Shore Center, focused on consumer-based taxable sales, is a close follower at 21 percent of the total.

Prior to being built, the Alameda cineplex and parking garage at Oak Street and Central Avenue were billed as significant sales tax drivers. The Park Street, South of Lincoln area, home to the cineplex, remains a consistent source of 11 percent to 12 percent of total sales tax revenue, virtually unchanged since the construction.

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