. . . Or, at least, a FALL in sales tax revenue!
Sales Tax Revenue to Rosemead
Fourth Quarter 2005 (November 15, 2005 - February 14, 2006):
$705,202
Fourth Quarter 2006 (November 15, 2006 - February 14, 2007):
$684,190
Change, 2006 - 2007: -$21,012
Percent Change: -3%
Bottom line: With Wal-Mart open in Rosemead during the entire Fourth quarter of 2006, and covering the holiday shopping season when most retailers have sales that rival or exceed their sales for the other three quarters of the year combined, total sales tax revenue to the city of Rosemead DROPPED 3% in comparison to the same period for the previous year.
So, let us summarize: They forced Wal-Mart into our city, divided our city for three years, stole our referendum, bought our recall election, all on the promise of jobs and tax revenue to our city. Yet, now it turns out that there hasn't been any employment boom for Rosemead residents, and there hasn't been any tax revenue surge for our city.
To check the Board of Equalization tax revenue reports for yourself, go to: http://www.boe.ca.gov/sutax/localdist.htm
Scroll down to the "Local Tax Statement of Distributions" and click on that to see the report for the current quarter. The five-digit city code for Rosemead is 19073.
To see reports for previous quarters, go back to the previous page, but instead of clicking on "Local Tax Statement Distributions," click on the quarter you want. Again, look for Rosemead under code 19073 (those other reports are in .pdf form, and very long--don't download them unless you have a reasonably fast computer connection).
Your not showing the whole picture.
Start showing the whole picture, not want makes your point look good.
From 11/15/2005-2/14/2006 Local tax $705,200.66
2/15/2006-5/11/2006 Local tax $589,731.67 that's down $115,471.09
5/12/2006-8/11/2006 Local tax $583,454.88 that's down $6,276.79
Wal-Mart opened in September 8/12/2006-11/14/2006 Local tax $613,676.74 that's up $30,221.86
11/15/2006-2/14/2007 Local tax $684,190.35 that's up $70,513.61
So it seems like as soon as Wal-Mart open the Revenue went up.
By the way, if you remove this, I'll just keep re-posting it.
What happens every Fourth Quarter?
Tax revenue ALWAYS goes up in Rosemead in the Fourth quarter. That's the Christmas holiday season. That's why I compared Fourth quarter to Fourth quarter, rather than Fourth quarter to Third Quarter.
Also, before they posted the fourth quarter 2006 data, the BOE had Third quarter 2005 data still available. For Rosemead, Third quarter tax revenue in 2006 was down compared to Third quarter 2005, as well.
By the way, care to guess what happens if we look at the change in sales tax revenue to our neighboring cities between Fourth Quarter 2005 and Fourth Quarter 2006?
Montebello: +13%
Monterey Park: +6.7%
San Marino: +5.3%
San Gabriel: +4.1%
Arcadia: +1.7%
Alhambra: +.5%
Rosemead: -3%
Isn't it funny how Rosemead is the only city in the area that saw a DECLINE in sales tax revenue between Fourth quarter 2005 and Fourth quarter 2006?
How's that for "The Whole Picture"?
Ouch!
Thanks for doing the research. It doesn't look good at all. Montebello seriously kicked some ass. I bet it was the development along Whittier and Mtb. that did it (and is still doing it). They just prettied up an existing corner, and really didn't do much to change the business composition of that corner.
I suspect that the net loss in revs in Rosemead was related to Wal Mart taking in a lot of dollars locally, away from other stores. Next year might see a gain, as the novelty of the big box wears off.
There's a lot of "told ya so" in this... but wouldn't it have been nicer to have directed funds (that were spent fixing sidewalks on SG) to the corner of SG and Garvey, along Garvey instead of SG? SG isn't a great retail strip, but Garvey has potential to be more attractive and pleasant... and even "walkable" to use some New Urbanism doublespeak. People already walk along Garvey.