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Port Orchard sales tax slightly down year‑over‑year; REIT receipts jump in May
Summary
Finance staff reported May sales tax collections were about 2% below May 2024 but the city's REIT receipts rose sharply, with May collections up about 40% year‑over‑year and year‑to‑date totals well above budget.
Noah Crocker, finance director, opened the meeting’s revenue update by reporting that May sales tax collections were down about 2% compared with May 2024. "So again, you kinda see in this year over year trend now for 5 months, we're down, 2% when we compare to 2024," Crocker said. He noted that collections are at roughly 11% of the annual budget, which he described as "positive from a budgeting standpoint."
Crocker said the city's REIT receipts were a bright spot: "We had actually a 40% increase year over year. So we collected $238,000 in May compared to 171 in 2024. Year to date, we're about 46% higher than our 2024 comparison through May, and we're about 84% above budget." He said staff will continue to monitor actual activity as payments are recorded.
Committee members had no further questions on the revenue snapshot and the meeting moved on to the sewer rate study discussion.
