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SB Sees Continued Growth in Key Tax Revenues
updated: Mar 20, 2014, 8:29 PM

By City of Santa Barbara

Sales Tax Results for the quarter Ended December 31, 2013

Santa Barbara received $5,489,331 in sales tax revenue for the quarter ended December 31, 2013, marking the second payment received in the fiscal year that ends June 30, 2014. Sales taxes for the second quarter grew 7.1% in relation to the same quarter of 2012.

With two quarters of payments received, overall sales tax revenues are up 5.2% from the same period last year, and are in slightly above the of 4.8% growth rate needed to meet budget for the entire fiscal year.

Click here for additional information on sales tax results.

Transient Occupancy Tax Revenues for the Month of February 2014

The City received $1,051,136 in Transient Occupancy Tax (TOT) revenues for the month of February 2014, which represents a 27% growth over the previous February. This is the highest growth rate so far this fiscal year and is largely due to the unseasonably warm and dry weather.

Through the first eight months, over $10.9 million in TOT has been collected, which represents a growth rate of 14.4% for the year. This compares to the anticipated growth rate of 10.2%. The budget for this fiscal year is $16.2 million.

Click here for additional information on transient occupancy tax results.

Previous Revenue News releases can be viewed here:

http://www.santabarbaraca.gov/gov/depts/fin ance/budget/revenue_news.asp

 

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