Measure.T Sales Tax Analysis and Revenue Comparison FY22-23 Update
April-June 2022 sales tax analysis reveals a 13% increase compared to the same period in 2021, with notable gains in hotels/motels, service/fueling stations, and fine dining. Expectations include sustained high prices, potential slowing in certain sectors at the end of 2022 and start of 2023, and a possible offset from increased international tourism. Detailed revenue comparisons for Measure.T across fiscal years are provided in the visuals.
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Measure T April June Analysis and FY 2022-23 Update November 16, 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
FY22 Measure T Revenues Table 1: Measure T Sales Tax Revenues Received 5
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 6
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 7