Third Quarter 2005 Sales Tax Up 6.9%
Sales tax figures for the third quarter of 2005 (July through September 2005) have been calculated and the City of Santa Clarita is reporting an overall increase of 6.9% over the same period one year earlier. The City of Santa Clarita realized $6.8 million in sales tax, compared with $6.4 million just one year earlier. "The City of Santa Clarita has a strong and healthy economy that continues to show gains each quarter," remarked Darren Hernandez, City Treasurer.
Compared with the same period one year earlier, sales tax increased 5.7% in general retail, 6.4% in food products, and 8.2% in transportation. Construction sales were also up 14.7% for the third quarter. Business to business sales saw a 8.3% decline during the same period. Business to Business sales represents the sale of goods to another business where the raw material is used to produce a final product.
Sales tax is an essential component of City revenue, contributing approximately
40% of the City's general fund. The City utilizes the revenue from sales tax for constructing new parks, adding more Sheriffs deputies, building and maintaining roadways and improving the overall quality of life in Santa Clarita.