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Filtered by Tag: sales tax

 
2025 Opens with positive sales tax results

2025 Opens with positive sales tax results

By Brittney Sherman

The first quarter of 2025 marks the first time in two years that the state of California received a positive year-over-year sales tax result. During that same timeframe Santa Clara County sales tax was down 2.2%, Bay Area sales tax was up 0.5% and City of Morgan Hill sales tax was up 0.1%. Much of the City’s positivity can be attributed to a statewide audit on online sales, leading to reallocations in the County pool which resulted in Morgan Hill’s share increasing 2.1% when compared to this same quarter last year.

The City’s Auto and Transportation category declined in alignment with nationwide industry results, the Fuel and Service Station category decreased due to a reduction in the price of crude oil, and the General Consumer Goods category declined signaling a shift from instore to online shopping. The first quarter of the year historically yields the lowest sales tax generation. Starting the year with a positive sales tax report is hopefully an indicator of additional positive results to come.

Read the full first quarter 2025 sales tax report HERE.

 
Morgan Hill generates 2% sales tax growth in Q3

Morgan Hill generates 2% sales tax growth in Q3

By Brittney Sherman

Morgan Hill’s 3rd quarter 2023 sales tax results showed 2% growth, while the Bay Area and California were down 3% and 1.6% respectively. Morgan HIll’s major contributors were from the Auto/Transportation, Food/Drug, Building/Construction and Business/Industry sectors. The City’s top 25 sales tax producing businesses grew a collective 17%, accounting for approximately 61% of all sales tax revenue generated into the General Fund.

Read the 2-page shareable report HERE.

 
1Q2023 sales tax

1Q2023 sales tax

By Brittney Sherman

The first quarter 2023 sales tax results showed minimal growth for Santa Clara County (+0.2%) and reductions for the City of Morgan Hill (-1.1%) and California statewide (-1.1%). When compared to first quarter 2022, Morgan Hill’s Autos and Transportation State and County Pools, and Restaurant and Hotel industry groups all experienced growth, while it’s Fuel and Service Station, Business and Industry, and Building and Construction groups showed losses. Significant nationwide decreases in the price of gas (20%) and the price of lumber (60%), in addition to a decline in citywide electronic sales, are the main factors behind the City’s negative first quarter sales tax results. However, the top 25 sales tax generating businesses citywide continue to be largely represented by auto dealers, big box retailers, grocery stores, and gas stations.

Statewide, California sales tax results for the 2022/2023 fiscal year are projected to yield a 2.2% growth, where it’s 2023/2024 fiscal year is projecting a 0.7% decrease.

Read the full report HERE.

 
2Q 2022 Sales Tax Revenue Continues to Climb

2Q 2022 Sales Tax Revenue Continues to Climb

By Brittney Sherman

The 2Q2022 sales tax revenue report has been released. View the full report HERE or skim the high level takeaways below. Although sales tax collections continue to soar quarter over quarter, experts predict much slower growth towards the end of 2022 and into 2023, as actions to curb inflation are implemented and comparisons between pandemic and post-pandemic sales tax revenue months become obsolete.

- Between the months of April-June, Santa Clara County Sales Tax collections grew 8.7% and Morgan Hill Sales Tax collections grew 10.5%, compared to these same months last year.

- After seven quarters of consistent growth, collections from the auto and transportation group dipped, mostly due to rising interest rates and inflation.

-Conversely, rising fuel costs and the return of travel activity resulted in service station collections increasing 35% over 2021.

- Morgan Hill’s business and industry group experienced an increase in collections, thanks to electrical equipment and light industrial materials sales.

- Statewide, local one cent sales and use tax increased 10% over 2021, marking the sixth consecutive quarter of double digit growth.

Have questions? Contact City of Morgan Hill Economic Development Director Matt Mahood at Matt.Mahood@morganhill.ca.gov

 
July eNewsletter

July eNewsletter

By Brittney Sherman

In this eNewsletter, you will find information about key efforts that impact our business community including:

·   1st Quarter Sales Tax Overview

·   Business License Renewals

·   CalCompetes Tax Credit and Grant Program Cycle #2

·   Magnolias Apartment Project to Include Farmworker Housing

·   Silicon Valley Business Journal Event - Meet Morgan Hill

·   Together at National Night Out

·   Urbn Ranch, Crumbl Cookie, Bloom, MOHI Farm, and

Bath & Body Works

·   Business Resources

Read the July 2022 eNewsletter HERE and reach out to the team if you have any questions or want to connect with us. Thank you for continuing to “Choose Morgan Hill.”

Have questions? Contact City of Morgan Hill Economic Development Director Matt Mahood at Matt.Mahood@morganhill.ca.gov

 
1st Quarter 2022 Sales Tax Data Released

1st Quarter 2022 Sales Tax Data Released

By Brittney Sherman

Here are a few key takeaways from Morgan Hill's 1st Quarter 2022 sales tax numbers:

-Santa Clara County sales tax collections grew 14% and Morgan Hill collections grew 8.4%, as compared to this same quarter last year.

-Receipts from local Morgan Hill brick and mortar purchases rose 9.3% compared to 2021, supporting the continued trend of buying locally.

Sales tax collected from service stations rose 52% compared to 2021, as a result of increased gas prices and the continued return of commuter travel.

Casual dining and quick-service restaurants continued their upward trend, marking the 4th full quarter in a row where restaurant receipts have increased.

Read the full report from HdL HERE.

Have questions? Contact City of Morgan Hill Economic Development Director Matt Mahood at Matt.Mahood@morganhill.ca.gov

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