Sales tax revenue plummeting - East Valley Tribune: Chandler

Sales tax revenue plummeting

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Posted: Friday, April 17, 2009 4:21 pm | Updated: 2:59 am, Sat Oct 8, 2011.

The pace of Chandler's slumping sales tax revenues accelerated in March, with a second straight month of this fiscal year's smallest collection.

The city received $5.93million from sales made in February, according to city documents released Friday. Revenues collected in February, off January transactions, totaled less than $6.33 million.

March collections are based on February sales.

Compared with last March, revenues for the month were down 17 percent, another worst since the fiscal year began last July. The previous largest drop came in January, when a poor Christmas shopping season resulted in a year-over-year decline of 16.8 percent.

For all but the last quarter of the fiscal year, sales tax revenues stand at $64 million. That's nearly $7 million lower than 2007-08, a drop of 9.8 percent.

In January, the year-to-date decline was 8.5 percent.

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