City Council
Staff Report
Report Type: INFORMATION REPORTS
Lead Department: Administrative Services
Meeting Date: May 12, 2025
Report #:2412-3861
TITLE
Sales Tax Digest Q4 (Oct-Dec) 2024
ANALYSIS
This report transmits information regarding the City of Palo Alto’s sales tax receipts for the fourth quarter (October to December) of 2024. Listed below are highlights from the report.
Detailed discussion and data can be found in the attached City of Palo Alto Sales Tax Digest (Attachment A)
Regional and statewide sales tax, adjusted economic benchmark year (Attachment A, p. 2):
•Palo Alto: decreased by 3.4%
•San Francisco Bay Area: decreased by 2.2%
•California statewide: decreased by 2.2%
City’s most significant activity for this period (Attachment A, p. 1):
•Leasing segment, 12.6% decrease (year-ending Q4)
•New auto sales, 18% decrease (year-ending Q4)
•Office equipment, 6.9% decrease (from Q4 2023 to Q4 2024) •Business services, 2.1% decrease (from Q4 2023 to Q4 2024) County Pool (Attachment A, p. 4)
•The City’s share of the county pool for this quarter is 5.9%; lower from Q4 2024 •Sales tax receipts from the County pool totaled $1.8 million.
ATTACHMENTS
Attachment A: 2024 Q4 Sales Tax Digest Summary
APPROVED BY:
Lauren Lai, Administrative Services Director