City Forecasts Sales Tax, Property Tax Revenue Growth

The Monrovia City Council will consider the city's mid-year budget review Tuesday and staff is projecting positive tax revenue numbers.

Monrovia's administrative services director expects growth in sales tax and property tax revenue this year, according to a mid-year budget review report.

The city expects sales tax to grow by 5 percent compared to last year amounting to a total increase of $268,195 in revenue, according to a budget report prepared by Administrative Services Director Mark Alvarado.

"Our local retail sector is continuing to show strong signs of recovery," Alvarado wrote. "Revenue from auto sales and leasing are strong for a second year in a row. Construction activity is up, which is good news for one of our leading sales tax generators, Home Depot."

The city expects property tax revenue to increase by about 4 percent over last year, according to the report. Property tax revenue grew by a small amount--1.8 percent--last year as well.


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