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  • Menifee Experiences Sales Tax Gain During Fourth Quarter For 2016
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Tuesday, 25 July 2017 17:48

Menifee Experiences Sales Tax Gain During Fourth Quarter For 2016 Featured

Written by  Menifee Buzz Staff
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Menifee Experiences Sales Tax Gain During Fourth Quarter For 2016

Menifee’s second quarter sales tax revenues outpaced the prior year’s results, a key indicator of a continued strong and expanding economy. The city’s sales tax revenues from October, November and December 2016 increased 10 percent excluding aberrations, when compared with the same quarter in 2015.

A newer city like Menifee depends on sales tax revenues to provide basic city services such as public safety, traffic relief and road improvements. Fourth quarter sales tax revenues are on target with expected sales tax revenue projections. In addition to reinstated Vehicle License Fees (VLF) and voter approved Measure DD (%1 sales tax increase), this increase of sales tax revenues has aligned Menifee for a healthy 17/18 fiscal year.

Overall, the consumer goods category contributed 33 percent of the city’s sales tax revenues, and continues to outpace previous years’ results. Restaurant, grocery and general retail stores openings, including the newly opened Town Center Marketplace, contributed to the strong growth in the sales tax increase. Building materials, and automobile categories also experienced strong growth, along with new drug stores and service stations.

 

When compared with surrounding cities’ sales tax revenues Menifee continuously outpaced the region and Southern California, with Menifee reporting increases more than four times that of Riverside County’s 2.1 percent increase and Southern California’s 0.7 percent increase.

 

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Menifee Buzz Staff

Menifee Buzz Staff

More in this category: « Menifee Launches Responsible Compassion Campaign Armando G. Villa Becomes the New Menifee City Manager »
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