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.
Continue reading Alameda Sales Tax Revenue Up
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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 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. 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 extravaganza promised by some promoters of the project. 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. Boosters of the cineplex attached to the Alameda Theater and the butt-ugly seven-story parking garage – imagine! a seven story parking garage in a town that preaches public transit and non-automobile alternatives! – promised that the development would generate a retail sales tax boon for City coffers. Another quarter has passed, another city staff report to Alameda City Council, and still, no retail sales tax boon. This should make Alameda residents wary of the promises attached the redevelopment of Alameda Point. At last night’s City Council meeting, Council heard that city staff have filed a second appeal with the State Board of Equalization in a dispute with the City of Livermore which could cost Alameda $1.1 million. As promised, here is some more analysis, including a couple of graphs, of Alameda’s Quarterly Sales Tax report, for the quarter ended December 31, 2008, which is the most recent data available from the State. City staff will present the report to Council tonight. According to an Alameda city staff report to be presented to City Council tonight, in the 4th Quarter of 2008, the Park Street South of Lincoln sales tax district suffered a 15.3% decline in sales tax revenue compared to the same quarter the previous year. On Tuesday night, City Council will review the quarterly sales tax report for the quarter ended September 30, 2008. There’s still no evidence that the Alameda Civic Center Parking Structure and Alameda Theater complex are providing the retail sales tax boon that was promised to Alameda residents. |
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