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NEWS
By Joseph Serna, joseph.serna@latimes.com | June 11, 2011
Despite the recession, Irvine has managed to go years without increasing taxes, cutting public service and has maintained its reputation as one of the safest cities in the country, city staff report in the annual budget slated for approval Tuesday. According to the proposed budget, Irvine is projecting about $46.6 million in sales tax revenue, a $6 million boost from the current fiscal year and equaling about a third of the city's overall revenue. The budget also projects about $42 million in property tax revenue, a segment not hit as hard as sales tax during the recent economic downturn.
BUSINESS
By Amanda Pennington | May 18, 2007
For the first time in the 17 years the city of Newport Beach has tracked sales tax revenue generated by local businesses, auto sales have outshined the restaurant industry in the amount of money that goes to the general fund. More than 20% of the sales tax brought into the city during the fourth quarter last year was made by selling new cars. But restaurants weren't far behind, making up almost 19% of the tax dollars the city will use in its general fund during the same period.
NEWS
By Alan N. Boinus | July 8, 2011
In an effort to create a balanced budget and some fiscal stability in California, Gov. Jerry Brown and the Democrats in the California Legislature finally passed a budget over continued Republican intransigence over the Democrats' desire to raise revenues rather than cut services like K-12 schools. Democrats sidestepped Republicans by finding a means to generate revenue without raising taxes (in fact, sales-tax rates are down now) by closing a loophole in the law that had allowed Internet giants like Amazon.com and Overstock.com to avoid collecting sales taxes on their Internet sales.
NEWS
By Joseph Serna, joseph.serna@latimes.com | May 25, 2011
COSTA MESA — The city's heavy reliance on sales-tax revenue makes the municipal budget vulnerable to the economy's ups-and-downs, city administrators said. At a Tuesday budget session focused on revenue, city staff said more than 44% of the city's revenue, or $41 million, comes from volatile sales-tax revenues. Moreover, about half of the city's sales-tax revenue comes from general consumer goods — such as furniture, clothing and electronics — where storeowners quickly see a dropoff in retail sales in an ailing economy, said Lloyd de Llamas of The HdL Cos., the city's revenue consultant.
NEWS
February 10, 2000
Noaki Schwartz NEWPORT BEACH -- The weakest source of major revenue in Newport Beach is sales tax, according to a recent city report comparing the city's revenues and expenditures to the 31 other cities in Orange County. "Perhaps we're not capturing enough sales tax from tourism," said administrative services director Dennis Danner, who headed the study. The comparison, an extension of last fall's five-year financial forecast, compared such areas as general revenue, property tax, sales tax, public safety expenditures and general government expenditures.
NEWS
January 3, 2002
June Casagrande NEWPORT BEACH -- The city's sales tax revenues have taken yet another dive -- dipping to 9.71% below last year's figures. Officials are worried, but hardly surprised. "I attribute it to the slowdown in the economy and the slowdown in the tourism industry, which is important to Newport Beach -- both of those things are nationwide," said Dennis Danner, the city's administrative services director. In early October, officials announced that revenues were down 8.5% so far for the fiscal year that will end June 30. The further decline sets a gloomy stage for the next budget, which staff members are already working on. "When you're second-highest revenue source is down over 9%, it's going to be difficult to make that up. We're concerned locally about the impact," he said Sales taxes are the city's second biggest source of revenue after property taxes.
NEWS
February 22, 2003
Paul Clinton Strong auto sales bolstered the city's sales tax revenue for the third quarter of 2002, bringing it out of the red for only the second time in nearly two years. Revenue to the city treasury from the sale of products and services rose 1.9% during the three-month timeframe. For six of the past seven quarters, the city's sales tax revenue dropped when compared to the same quarter the previous year. The final three months of 2001 saw the only other increase.
NEWS
By Mona Shadia, mona.shadia@latimes.com | January 10, 2011
COSTA MESA — Projected revenues will decrease the city's deficit by $6.6 million, according to the mid-year budget review. The amount of sales tax Costa Mesa received in the first six months of this fiscal year increased by about 9.7% when compared to the last fiscal year. Analysis of that trend by Hinderliter de Llamas, a financial firm the city consults, indicates Costa Mesa is expecting an increase in revenue by about $4.4 million, the budget review stated. "This is simply a measure of recent economic activities," said City Manager Allan Roeder.
ARTICLES BY DATE
NEWS
By Perry Valantine | August 8, 2013
I feel compelled to respond to Planning Commissioner Colin McCarthy's recent commentary on Costa Mesa business taxes ( "Don't burden businesses with higher fees," Aug. 4). McCarthy seems to be making three points to support his view that business taxes should not be increased for the first time in 52 years: that businesses are already paying too many taxes, that they don't receive anything in return for paying business taxes and that increased business taxes would chase businesses out of town.
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NEWS
By Bradley Zint | June 12, 2013
Costa Mesa's revised budget no longer assumes a deficit, according to a presentation given to the City Council on Tuesday. The proposed 2013-14 fiscal year budget, at $131.8 million, has been whittled down in the weeks since it was first presented in mid-May. At that time, it totaled $157.4 million but with a $12.7-million deficit . Included in the budget is about $18.3 million, or 13.9% of the budget total, toward capital improvements - a stated priority of the council majority.
NEWS
May 20, 2013
Irvine's Mayor Steven Choi will host the Annual Business Luncheon with the Mayor on Tuesday. The address is being organized in partnership with the Irvine Chamber of Commerce at the Hyatt Regency Irvine, 17900 Jamboree Road, from 11:30 a.m. to 1 p.m. Attendees, which will include business professionals and community leaders, will hear about the city's support of local companies, the value of sales tax for local governance and the benefits of...
NEWS
By Mike Whitehead | April 11, 2013
Ahoy! As California struggles financially and sales tax generated from boat sales is dramatically down, yet another state has taken a step to increase its sales tax revenue. Maryland's legislature voted this week to cap the state's vessel tax at $15,000, following suit with Florida. Now before you start emailing me that this only helps the wealthy, let us review the aftermath of the tax cap in Florida. In 2010, Florida capped vessel sales tax at $18,000, which brought offshore and out-of-state sales back into the state, thus increasing revenues overall.
NEWS
By Alan N. Boinus | July 8, 2011
In an effort to create a balanced budget and some fiscal stability in California, Gov. Jerry Brown and the Democrats in the California Legislature finally passed a budget over continued Republican intransigence over the Democrats' desire to raise revenues rather than cut services like K-12 schools. Democrats sidestepped Republicans by finding a means to generate revenue without raising taxes (in fact, sales-tax rates are down now) by closing a loophole in the law that had allowed Internet giants like Amazon.com and Overstock.com to avoid collecting sales taxes on their Internet sales.
NEWS
By Sarah Peters, sarah.peters@latimes.com | June 15, 2011
IRVINE — The Irvine City Council approved a $136.2-million General Fund budget for the 2011-12 fiscal year Tuesday. Revenues are projected to increase by more than $9.6 million, with sales tax showing the greatest increase at $6.1 million, according to a city staff report. Council members also approved the $64.8-million Orange County Great Park fiscal year budget, with Councilmen Jeffrey Lalloway and Steven Choi voting against the item. The two had also voted against the park's budget at the May 19 Orange County Great Park Board of Directors meeting.
NEWS
By Joseph Serna, joseph.serna@latimes.com | June 11, 2011
Despite the recession, Irvine has managed to go years without increasing taxes, cutting public service and has maintained its reputation as one of the safest cities in the country, city staff report in the annual budget slated for approval Tuesday. According to the proposed budget, Irvine is projecting about $46.6 million in sales tax revenue, a $6 million boost from the current fiscal year and equaling about a third of the city's overall revenue. The budget also projects about $42 million in property tax revenue, a segment not hit as hard as sales tax during the recent economic downturn.
NEWS
By Joseph Serna, joseph.serna@latimes.com | May 25, 2011
COSTA MESA — The city's heavy reliance on sales-tax revenue makes the municipal budget vulnerable to the economy's ups-and-downs, city administrators said. At a Tuesday budget session focused on revenue, city staff said more than 44% of the city's revenue, or $41 million, comes from volatile sales-tax revenues. Moreover, about half of the city's sales-tax revenue comes from general consumer goods — such as furniture, clothing and electronics — where storeowners quickly see a dropoff in retail sales in an ailing economy, said Lloyd de Llamas of The HdL Cos., the city's revenue consultant.
NEWS
By Joseph Serna, joseph.serna@latimes.com | April 27, 2011
COSTA MESA — When the City Council discusses next year's preliminary budget at its May 17 meeting, the city is expected to reveal that sales tax revenues are increasing, but pension costs also are increasing faster than previously reported. Through March of this year, Costa Mesa has $6.6 million more in sales tax revenue than originally projected. Still, city officials said, when they reveal their preliminary budget next month, they expect a $5-million budget shortfall. The revenue was already budgeted into the amended budget for the second half of this fiscal year, said Councilman Steve Mensinger.
NEWS
By Mike Reicher, mike.reicher@latimes.com | February 7, 2011
Because of unexpected jumps in revenue from two important tax sources, Newport Beach officials expect to close their $2-million budget deficit for this fiscal year. That's one of the highlights of the city's mid-year financial report, which the City Council will review during its regular meeting Tuesday night. Newport started the 2010-11 fiscal year $2 million in the hole, but it appears that no immediate cuts will be needed to fill it. The city manager's report predicts that revenue from transient occupancy tax — the amount charged visiting hotel guests — and sales tax will both exceed expectations.
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