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June Sales Tax: General 2% Up 9.8% Year over Year; Tourism Tax Slightly Down
Summary
City Finance staff reported the 2% general sales tax for June was 9.8% higher than June 2023 while tourism-related sales tax was 3.3% lower; staff said year-to-date figures are mixed and discussed economic and rally-related factors.
City finance staff presented June sales-tax figures and answered council and public questions about trends.
Adam told the council that the general 2% sales tax for June was "9.8% higher than June of 2023" and that sales for the first six months of 2024 were ‘‘point 57% higher’’ than the same period in 2023. He said the tourism-related 1% sales tax (applied to alcohol, hotels and restaurants) for June 2024 was "3.3% lower than June of 2023," and that tourism sales for the first six months of 2024 were 2.8% lower year to date. Adam and councilmembers suggested possible causes including economy-driven spending changes and rally-related variation; vendors cited that some reduced spending this year in advance of the 85th rally next year.
Council asked if corrective actions were available; staff said more data and context over coming months would guide policy or promotion efforts.
The presentation ended with no motion; council thanked staff for the report.
