Measure T Sales Tax Analysis FY 2022-23 Update
In this report, Roxanna Moradi, Sr. Financial Analyst, presents an analysis of Measure T sales tax revenues for FY 2022-23. Highlights include a 13% increase in sales tax receipts compared to the same period in 2021, with the largest growth seen in hotels/motels, service/fueling stations, and fine dining sectors. The report also discusses the impact of high prices on consumer goods and potential sector slowdowns towards the end of 2022 and beginning of 2023. Additionally, the report explores the outlook for international tourism to offset slowing sales in certain sectors.
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. Download presentation by click this link. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
E N D
Presentation Transcript
Measure T April June Analysis and FY 2022-23 Update December 7, 2022 Presented by: Roxanna Moradi, Sr. Financial Analyst
Sales Tax Analysis AprilJune 2022 Highlights Sales tax receipts by 13% compared to April-June 2021. Largest in hotels/motels, service/fueling stations, and fine dining. High prices have persisted. Smaller gains in general consumer goods signaling consumer price tolerance. High prices are expected to be maintained. Outlook Potential slowing in some sectors such as consumer goods and automobile sales end of 2022 and beginning of 2023. When international tourism resumes to normal levels, it could potentially offset the slowing of consumer goods and automobile sales. 2
Measure T Revenues Table 1: Measure T Sales Tax Revenues Received FY23 Table 2: Measure T Sales Tax Revenues Received FY22 3
Measure T Revenue Comparison $8,000,000 $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $- FY19 FY20 FY21 Q3 FY22 FY23 Q1 Q2 Q4 4
Measure T Revenues Table 1: Measure T Sales Tax Revenues Received FY23 Table 2: Measure T Sales Tax Revenues Received FY22 6
FY22 Measure T Revenues Table 1: Measure T Sales Tax Revenues Received 7
Measure T Revenue Comparison Measure T Revenues $8,000,000 $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $- FY19 FY20 FY21 FY22 Q1 Q2 Q3 Q4 8
Measure T Revenue Comparison Measure T Revenues $30,000,000 $24.8 M $25,000,000 $20.4 M $19.7 M $20,000,000 $18.6 M $15,000,000 $10,000,000 $5,000,000 $- FY19 FY20 FY21 FY22 9
