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Anacortes Q1 finance update: sales tax up vs. last year but building-permit receipts remain weak
Summary
City finance staff told the council the city's first-quarter revenues show modest gains in some sectors but continued weakness in building permits and real estate excise tax receipts, and that the city has been drawing reserves to balance budgets.
At a City Council meeting on April 21, 2025, finance staff presented the city's first-quarter budget update and warned that while some revenue streams show upticks, the city is in its third year of largely flat tax revenues and continued drawdown of cash reserves.
Finance staff member Mr. Hoglund told council that sales tax through the first quarter of 2025 is up about 4.5% compared with the first quarter of 2024 but remains below the city's 2022 peak. Hoglund said a boost in March receipts was driven in part by boat sales tied to the Seattle Boat Show (January sales are reported in March receipts) and by construction activity related to the city's outfall project.
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