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www.hdlcompanies.com | 888.861.0220 <br />Q3 2023* <br />Q3 2024* <br />Legend <br />$0 <br />$200,000 <br />$400,000 <br />$600,000 <br />$800,000 <br />$1,000,000 <br />$1,200,000 <br />$1,400,000 <br />$1,600,000 <br />SALES TAX BY MAJOR BUSINESS GROUP*Allocation aberrations have been adjusted to reflect sales activity <br />County <br />and State <br />Pools <br />Autos <br />and <br />Transportation <br />Business <br />and <br />Industry <br />Restaurants <br />and <br />Hotels <br />General <br />Consumer <br />Goods <br />Building <br />and <br />Construction <br />Food <br />and <br />Drugs <br />Fuel and <br />Service <br />Stations <br />CITY OF PLEASANTON HIGHLIGHTS <br />Published by HdL Companies in Winter 2025 <br />SALES TAX UPDATE <br />CITY OF PLEASANTON <br />3Q 2024 (JULY - SEPTEMBER) <br />Pleasanton’s gross receipts from July – <br />September 2024 were 4.2% below the <br />third sales period in 2023. However, after <br />adjusting for reporting modifications <br />such as audit adjustments and delayed <br />payments, actual sales were essentially <br />even at 0.2%. Most tax groups declined. <br />New and recreational vehicle sales <br />slumped, resulting in a 14.7% drop <br />in autos-transportation revenues – <br />marking the fifth consecutive quarter of <br />decline. The price of crude oil dropped <br />during the period and directly affected <br />fuel-service station receipts – with <br />revenues sliding almost 17%. <br />Casual and quick service dining both <br />waned – pulling down restaurant- <br />hotels returns. In-store shopping <br />receipts decreased, with department, <br />electronics/appliances and specialty <br />stores all contributing to a fall in general <br />retail. Lower building materials sales and <br />reduced contractor activity caused an <br />8.2% drop in building-construction. <br />On the positive, the City’s allocation <br />from the countywide use tax pool <br />skyrocketed almost 15% due to pool <br />share adjustments caused by a large <br />taxpayer audit. Although medical/ <br />biotech payments decreased – gains <br />in other business-industrial sectors, <br />including business services and office <br />equipment pulled the group up 8.4%. A <br />large taxpayer payment made (possibly <br />made in error) in the convenience/liquor <br />store segment boosted food-drugs <br />results. <br />Net of adjustments, taxable sales for all <br />of Alameda County were flat over the <br />comparable time period; the Bay Area <br />was down 1.9%. <br />TOTAL:$ 6,552,970 <br /> 0.2% 0.0%-2.3% <br />COUNTY STATE <br />PLEASANTON <br />3Q2024 <br />Attachment #7