California cities losing millions in sales tax receipts
Cities and counties in California are losing millions of dollars in sales tax receipts due to slower retail sales, compared with last year.
In the most recent data available from the state Board of Equalization, jurisdictions around the state got $244 million in October, 14.5 percent less than they got in October 2008 as their share of the state's 8.25 percent sales tax. One percent from the sales tax — $1 on each $100 of sales — goes back to cities and counties.
But the pain is not being shared equally. Better off areas are generally seeing a smaller drop-off in sales tax receipts. A few jurisdictions saw their sales tax receipts increase.
San Francisco got $6.9 million in October, 9 payday loans.2 percent less than the $7.6 million it received in October 2008.
The comparison with last October is interesting because the economy had already begun dropping at that point. Statewide, cities and counties got 6.2 percent less in October 2008 than they did in October 2007.
This table details how much Bay Area cities and unincorporated county areas got in October 2009, compared with October 2008. Click on heades to reorder the list. Click the headers of each column to resort the data.
Filed under: economics by Finance Boss