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Preliminary December financials: construction sales tax boosted revenues but REET declined
Summary
Finance reported a December 2025 soft close: construction-related sales tax added roughly $2.0 million to sales-tax receipts, bringing sales tax to about 93.87% of budget; REET (real-estate excise tax) declined ~16% from 2024. Staff emphasized numbers are preliminary until the formal close in February.
The finance director presented preliminary (soft-close) December 2025 financial results and reviewed revenue and expense trends through the January 20 soft-close window.
Staff said sales tax — about 25% of general fund revenue — came in at roughly 93.87% of the budgeted amount for the period, helped by an uptick in construction-related sales tax…
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