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Santa Barbara Sees Continued Growth in Key Tax Revenues

The City of Santa Barbara received $4.87 million in sales tax revenue for the quarter ended March 31, which is 0.3 percent higher than the same quarter last year.

Since sales tax revenues are received only quarterly from the state, and one quarter in arrears, the city receives its third-quarter results at the end of June.

The city has received more than $16.07 million in sales tax for the first three quarters of this fiscal year, with a 3.3 percent growth rate over the same period last year. Although the city still has one more quarter of revenues to be received, the city appears to be on track to meet its budgeted sales tax revenues of $21.3 million.

Click here for additional information on sales tax results.

Transient Occupancy Tax Revenues for May

The city received $1.6 million in Transient Occupancy Tax (TOT) for the month of May, a 5.6 percent increase over May 2014. These results include the effects of the closure of a well established motel in the city in March.

Through the first 11 months of the fiscal year ending June 30, the city has collected over $16.7 million in TOT revenues, 10.6 percent ahead of last year through the same period. With one more month of collections remaining, revenues appear on track to exceed the adopted budget of $17,641,400.

Click here for additional information on transient occupancy tax results.

— Robert Samario is the finance director for the City of Santa Barbara.

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