SLO Sales Tax,Bed Tax Revenue Climb

Hottest retail area is Los Osos Valley Rd says new report

Sales tax revenue for the second quarter of 2012 was up 7.1% in 2012 after climbing 9.2 % the last quarter.  The trend is positive both here and nationally with an expected increase of of 4.1% in Holiday sales by the National Retail Foundation.

SLO city sales grew strongest Sales the Los Osos Valley Rd corridor up 25.4% in the latest quarter with a 9% increase Downtown but a 10% decline in the Madonna retail area.

Statewide the SLO quarterly newsletter published by their finance  department  reports that auto sales receipts are up 22.8% in SLO with restaurants  and liquor sales up 26%. Speciality stores and sporting goods stores were each up a hefty 34 to 35%.

The city reports says sales tax revenue for all the county for the quarter was up nearly 13%.

On the bed tax front the city reported October TOT tax up 7.3% and 6.9% year to date as more visitors stayed in our hotels.

Next month we will get a report that  will include the newly opened Hotel Granda that will add 17 rooms to the 2127 hotel rooms already in the city.