Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
City economist: Gross receipts tax shows mixed signals — retail weak, online sales not broken out
Summary
The City Economist told the council that gross receipts tax (GRT) receipts were mixed year‑to‑date, with a dip in retail but strength in construction and professional services; she said state reporting does not separately identify online sales, complicating local analysis.
City Economist Christine Burner briefed the Albuquerque City Council on April 21 on the city’s gross receipts tax performance, telling councilors that fiscal‑year 2025 year‑to‑date growth measured under the state’s methodology stood at about 2.6 percent through February, slightly above the 2.1 percent growth assumption built into the FY2025 city budget.
Burner said monthly data were mixed: January showed a 1.1 percent decline, while February rebounded with 4.7 percent growth over the prior year. Business‑sector growth…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
