Santa Barbara experiences decline in key tax revenues

City of Santa Barbara Press Release

Sales Tax Results for the Quarter Ended December 31, 2016

Santa Barbara received approximately $5.7 million in sales tax revenues during the quarter ended December 31, 2016, a 1.3% decline over the same quarter last year. Since sales tax revenues are received quarterly from the State, and one quarter in arrears, the City receives the 2 nd quarter results for each fiscal year in March, which also marks the second sales tax payment for Fiscal Year 2017.

As the second largest General Fund revenue, the sales tax budget for Fiscal Year 2017 is $22,381,000. With two quarters received, sales tax revenues are approximately $11.2 million. Sales tax results for the March quarter will be available in June 2017.

For additional information on recent sales tax results, click here .

Transient Occupancy Tax Down in February

The City of Santa Barbara collected approximately $1.1 million in Transient Occupancy Taxes (TOT) for the month of February, representing a 9.5% decrease compared to the same month last year. Above-average rainfall, including a significant storm before a three-day weekend, contributed to this large decline.

The City has collected approximately $12.7 million in TOT revenues for the first eight months of this fiscal year. The budget for Fiscal Year 2017, which runs from July 1 through June 30, is $19,766,200.

The Transient Occupancy Tax table can be viewed here.

Previous Revenue News releases can be viewed here:

http://www.santabarbaraca.gov/gov/depts/finance/budget/revenue_news.asp