San Fran is collapsing. Every matrix shows revenues and jobs down, drugs, crime, homelessness up—and people and businesses fleeing the city. One way to determine the health of a community is the sales tax revenues.
“According to Egan, San Francisco’s consumers aren’t spending as much as they were in 2019 pretty much anywhere. At the end of 2019, San Francisco’s total sales tax across the 65 neighborhoods considered in this data was about $37.3 million, or $5.1 million more than last year (nearly $32.2 million).
“There’s some perception in the city that all of the problem with sales tax is downtown. And it is true that you know, the big sales tax generating areas downtown are in trouble, but there’s trouble across the city,” said Egan.
This is what it looks like when you have a 100%–not even a single Commissioner is Republican—Democrat city.
New data, same story: SF still ‘weakest sales tax place in California’
By Carmela Guaglianone, SF Examiner, 5/3/23 https://www.sfexaminer.com/news/business/sf-recovery-woes-go-beyond-downtown-in-new-sales-tax-data/article_2dc7dda2-e9e8-11ed-8481-6749d7ca9720.html
San Francisco companies that have been encouraging workers to come back to downtown offices might think again when they see their spring 2023 tax bills.
New sales tax data tells the same old story of San Francisco’s economic woes: The downturn is widespread, and the recovery is slow.
“There’s trouble across The City, that recovery is weak. It’s continuing. It’s ongoing, but it’s weak,” said Ted Egan, The City’s Chief economist.
The controller’s office sales tax data compares sales tax revenues from the last quarter 2022 to revenue from the same period in 2019, just before the pandemic shut down cities across the globe. Sales tax revenue is often used as a yardstick for economic growth — it shows how much consumers are spending, and where.
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According to Egan, San Francisco’s consumers aren’t spending as much as they were in 2019 pretty much anywhere. At the end of 2019, San Francisco’s total sales tax across the 65 neighborhoods considered in this data was about $37.3 million, or $5.1 million more than last year (nearly $32.2 million).
“There’s some perception in the city that all of the problem with sales tax is downtown. And it is true that you know, the big sales tax generating areas downtown are in trouble, but there’s trouble across the city,” said Egan.
