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Alameda residents are still waiting for the cineplex and parking garage to be the promised boosters of sales tax revenue for the city treasury. Five years in, the Alameda Cineplex and Parking Garage, which were billed as sales tax revenue drivers for the city, are still not a tremendous boon to city coffers boosters [...] Taxable sales in Alameda were up 16 percent in the final three months of last year, compared to the same period in 2011. The top 25 businesses in Alameda generated 54 percent of sales transactions in the quarter. Sales tax revenue is budgeted to generate 7 percent of the City of Alameda’s general fund revenue [...] Next week, Alameda City Council will receive the latest quarterly sales tax report for the period ending September 30th, 2012. In line with broader trends in Alameda County and the Bay area, per capital sales tax revenue for the city is up. [...] Alameda City Council voted last night to put a one-half percent local sales tax increase on the ballot, increasing the tax to 9.25 percent. [...] A letter from Action Alameda News publisher David Howard. Alameda City Manager John Russo’s proposal to increase the sales tax rate in Alameda to 9.25 percent won’t solve the current general fund deficit problem, and is not likely to raise the money to pay for all his promises in a meaningful time frame. What’s worse, [...] According to a report prepared for next week’s Alameda City Council meeting, sales tax revenue in Alameda was up 11% in the first quarter of this year, compared to the same quarter of the previous year. [...] Sales tax revenue rose 3.5% in Alameda for the quarter ended June 30, 2010, which is the most recent quarter for which data is available, as reported to Alameda City Council earlier this week. [...] 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 [...] Tonight City staff will present to Alameda City Council a sales tax report for the most recent quarter reported, showing a reversal in steady same-quarter year-over-year declines since the second quarter of 2008. However, the Park Street business district around the Alameda Theater and Cineplex and parking garage still are not generating the sales tax [...] Last week, Alameda City Council reviewed the quarterly sales tax numbers. Retail sales tax in Alameda was the hardest hit, business-to-business sales tax revenue the least hardest hit. [...] |
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