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Murrieta projects flat sales tax, raises property-tax and interest revenue estimates in Q3 update
Summary
City finance staff presented a third-quarter FY24-25 update proposing a $2.2M reduction in sales-tax forecast offset by increased property-tax, interest earnings and other revenues; staff also requested modest appropriations from sustainability reserves for planned facility and vehicle needs. Council approved the adjustments.
The Murrieta City Council on June 17 received a third-quarter FY24-25 financial status report and approved staff's recommended adjustments, which reduce the city's sales-tax projection by $2.2 million but add upward adjustments to property-tax and interest-income estimates.
Finance Director Javier Carmel and Finance Manager Jennifer Terry summarized the numbers: sales tax receipts have trended below expectations and staff…
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