City experiences ups and downs in third quarter 2007.
Despite an overall decline in sales tax revenues for the third quarter, Santa Clarita saw some sales tax category increases. Santa Clarita sales tax numbers for the third quarter of 2007 (July, August, September 2007) saw a 5.4% overall decrease compared with the same quarter one year ago.
“Santa Clarita’s sales tax numbers decreased about $300,000 this quarter over the previous quarter. What this means for Santa Clarita is that we will continue our business practices of conservative financial planning during these uncertain times,” commented Darren Hernandez, City Treasurer.
Santa Clarita saw gains during the third quarter in local restaurants (+10%), discount department stores (+16.2%), and office equipment (+32.8%), however decreases were seen in new car sales, (-12.8%) and home furnishings sales (-4.96%), as well as lumber/building materials, (-28.3%).
Other areas of increased sales tax revenue to the City of Santa Clarita for the third quarter of 2007 included: automotive supply stores (+7.01%); motion pictures/equipment (+5.51%); trailers/auto parts (+25.58%); and grocery stores (+23.9%).
Sales tax is an essential component of City revenue, contributing approximately 39% 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.