Report: Menifee Sales Tax Revenues Up Nearly 10 Percent

City of Menifee officials announced today that Menifee’s second quarter sales tax revenues for 2012 increased nearly 10 percent when compared to the second quarter of 2011. The 9.59 percent increase is due largely to several new sales tax generating businesses opening in the last year, including Texas Roadhouse and Miguel’s Jr.

City officials expect sales tax revenue to continue its upward swing now that Panera Bread and BJ’s Restaurant and Brewery have been established since the last sales tax reporting period closed.

Sales tax revenue is reported by The HdL Companies, a government financial reporting company. The exact revenue total has not been reported to city officials yet but will be posted on the city website when it is available.

"We are thrilled to see this nearly double-digit increase in sales tax figures for two important reasons," said City Manager Bill Rawlings. "First, it indicates that positive economic growth is happening in our community and consumer confidence is picking up. And second, it provides much-needed sales tax revenue to further strengthen the city’s financial stability."

Sales tax revenue is one of the city’s primary sources of funding for important services such as public safety, transportation projects, beautification, public works, parks and recreation. For a young city, developing this revenue base is important to build its financial security.