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City of Pleasanton Operating Budget • FY 2021/22 - FY 2022/23D - 2 Note: The Property Tax Revenues chart includes not only secured property tax, but unsecured, delinquent, supplemental and Vehicle License Fee (VLF) in lieu property tax revenues as well. Sales Tax The current sales tax rate in Alameda County is 10.25 percent, of which 1.0 percent is the “local” or City share. However, under a 1950’s revenue sharing agreement with Alameda County, the City receives only 95.0 percent of the 1.0 percent, with the remaining dollars going to Alameda County. In exchange for sharing the sales tax, the County has shared (in varied degrees over the years) some of its gas tax revenues with the City. Dublin, San Leandro, and Livermore are the only cities in Alameda County that are not party to this agreement. When the COVID-19 pandemic hit, the City’s sales tax revenues declined but have rebounded to the pre- pandemic level. FY 2023/24 sales tax is projected at $25.4 million, a 1.3 percent increase from FY 2022/23. FY 2024/25 sales tax is projected at $27.8 million, a 9.2 percent increase from FY 2023/24. FY 2023/24 sales tax includes partial year revenue anticipated from a new Costco store, and full year of revenue is included in FY 2024/25. Based on the sharing agreement with Costco, 40.0% of the revenue will be paid back to Costco for costs associated with traffic and street improvements in the Johnson Drive Economic Development Zone until the City’s share of the cost is paid off. * Projected * Projected