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<br />VII. City Revenue
<br />The City of Tukwila relies on various source of revenue to fund services and capital expenditures in the
<br />City. Included as an attachment to this report are several pages from the City's Comprehensive Annual
<br />Financial Report (CAFR) that provides various financial information for the City.
<br />Overall, the City's total revenue has remained nearly consistent over the last nine years just over $51
<br />million. The best year during this period was 2011 when the City's collected just over $68 million in total
<br />revenue. The worst year was 2008 when the City collected just over $49 million in revenue. The
<br />decrease in 2008 can likely be attributed to the Great Recession and pullback in consumer spending.
<br />General Governmental Tax Revenues by Source
<br />2003 -2012
<br />Fiscal Year
<br />Property
<br />Sales & Use
<br />Utility
<br />Excise
<br />Business
<br />Other
<br />Total Taxes
<br />2003
<br />$ 9,854,007
<br />$16,171,756
<br />$ 1,591,922
<br />$3,500,318
<br />$ 431,188
<br />$ 437,031
<br />$31,986,222
<br />2004
<br />$10,493,728
<br />$16,293,960
<br />$ 2,309,787
<br />$4,068,110
<br />$ 530,725
<br />$ 451,863
<br />$34,148,173
<br />2005
<br />$10,627,410
<br />$16,887,845
<br />$ 2,646,356
<br />$3,222,936
<br />$ 408,798
<br />$ 831,530
<br />$34,624,875
<br />2006
<br />$11,018,846
<br />$17,591,260
<br />$ 2,930,332
<br />$4,938,515
<br />$ 402,784
<br />$ 920,077
<br />$37,801,814
<br />2007
<br />$11,177,532
<br />$19,355,867
<br />$ 3,666,079
<br />$4,124,168
<br />$ 405,973
<br />$ 931,173
<br />$39,660,792
<br />2008
<br />$11,245,973
<br />$17,709,319
<br />$ 3,934,210
<br />$3,003,438
<br />$ 475,500
<br />$1,089,344
<br />$37,457,784
<br />2009
<br />$12,190,219
<br />$14,585,015
<br />$ 6,172,569
<br />$2,824,407
<br />$ 738,341
<br />$ 656,730
<br />$37,167,281
<br />2010
<br />$13,188,942
<br />$14,251,312
<br />$ 6,134,494
<br />$2,488,357
<br />$ 727,151
<br />$ 301,867
<br />$37,092,123
<br />2011
<br />$13,427,139
<br />$16,113,584
<br />$ 5,424,643
<br />$1,780,294
<br />$ 667,064
<br />$ 622,955
<br />$38,035,679
<br />2012
<br />$14,072,015
<br />$15,441,683
<br />$ 4,001,385
<br />$3,201,098
<br />$2,497,6064
<br />$2,288,822
<br />$41,502,609
<br />% Change
<br />From Start
<br />Year to
<br />End Year
<br />42.8%
<br />-4.5%
<br />151.4%
<br />-8.5%
<br />479.2%
<br />423.7%
<br />29.8%
<br />The table above shows the City's revenue by source and year. As was discussed earlier, the taxable retail
<br />sales in the City have been in decline. This decline can also been seen in the 4.5% reduction in sales tax
<br />collected in 2012 versus 2003. The City's sales tax rate of .84% has remained constant since 2003. Sales
<br />tax still makes up a large portion of the City's total revenue; however, its total share has been
<br />decreasing due to loss in taxable sales market share and increase in revenue generated by other
<br />sources.
<br />4 The increase in revenue collected represents the City's enactment of the RGRL.
<br />12 Economic Development Background Memo
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