FY 2425 2526 Recommended Operating Budget

The chart below illustrates the City’s projected sales tax revenue by major industry group for FY 24 -25. Sales tax revenue is expected to grow for most industry groups, except Building and Construction, and Business and Industry from the current FY 23-24 amounts.

Projected FY 24-25 Sales Tax by Industry Group (Amount in Millions)

Building and Construction, $1.2 , 10%

Foods and Drugs, $0.6 , 5%

Autos and Transportation, $3.0 , 23%

Business and Industry, $1.1 , 8%

Restaurants and Hotels, $1.6 , 13%

State and County Pools, $2.4 , 18%

Fuels and Service Stations, $1.4 , 11%

General and Consumer Goods, $1.6 , 12%

Source: HdL

From a property and sales tax perspective, it is important to understand that the City only receives a small portion of the total taxes paid by residents, businesses, and visitors as depicted in the following images.

18 BUDGET MESSAGE