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City Council to Receive Latest Quarterly Sales Tax Report

Next week, Alameda City Council will receive the latest quarterly sales tax report.

Next week, Alameda City Council will receive the latest quarterly sales tax report.

At Tuesday’s meeting, Alameda City Council will receive the latest quarterly sales tax report, for the period ending September 30th, 2015.

The report reflects sales tax receipts collected from April 1, 2015 to June 30th, the end of the city’s fiscal year.

Sales tax receipts for the fiscal year that closed in June exceeded projections by 17 percent, or $973,164, coming in at $6.6 million.

However, receipts for the second quarter of 2015 were down 3.4 percent compared to the same quarter last year; receipts for the second quarter this year totaled $1.9 million.

Receipts in the Park Street – South of Lincoln business district were essentially flat, as a share of total receipts across all business districts.

Since the development of the Alameda cineplex and multi-story parking garage in 2008, a project hailed as a sales tax generator, the district’s share of sales tax revenue has steadily hovered around 11 percent to 12 percent.

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