Sales Tax Revenues Up 23% at End of ’95
With more and more retail establishments opening and continuing growth in light industry production, sales tax revenues continue to climb for Camarillo, according to the latest state Board of Equalization figures.
Director of Finance Anita Bingham said the city’s sales tax revenues increased more than 23% in the final quarter of 1995 over the same period a year ago.
“It’s great,†Bingham said. “We anticipated it when the Camarillo Factory Stores were built, but one of the things we’ve noticed is that there are also gains in other areas of the community.
“It’s probably a reflection of the nationwide economy picking up,†Bingham added. “But this is very good for the city.â€
Camarillo collected $4.3 million in sales tax revenue in the last quarter of 1995, up from just $3.5 million in the same period the previous year, Bingham said. The board of equalization says Camarillo merchants sold a total of $66.4 million in goods in the last three months of 1995, up from $54.6 million in sales in the previous year’s fourth quarter.
The finance director credited sharp gains in retail, light industry and recreation activities, such as movies. Both United Artists and Edwards Cinemas have opened huge multiplex theaters in Camarillo over the past few years.
Bingham said there is no shortage of city projects to pay for.
“Believe me, we have plenty to do with it,†she said.
“We’ve been very aggressively completing capital improvement projects, and the general fund supports some of those.â€
Some recently approved capital projects include the new Carmen Drive freeway overpass and the expansion of the City Hall complex.
