Sales Tax Revenue Rises in Quarter

Sales tax revenue in Ventura County increased significantly in the second quarter of last year compared to the same period in 1993, officials said Wednesday.

Statewide, California posted an increase of 4.1% over the same period, state officials said.

Officials expect those numbers to climb even higher when the last two quarters of 1994 are reported later this year, said David Hayes of the State Board of Equalization.

“I think the last two quarters will be even better,” Hayes said. “The economy seems to be coming around.”

Ventura County collected $1.5 billion in the second quarter of 1994, an increase of more than $100 million compared to the second quarter of 1993. The state collected $70.7 billion in the second quarter last year, up $2.7 billion over the same period in 1993.

Cities and counties receive about 1% of the sales tax collected within their boundaries.

“It is our single biggest revenue source,” said Robert S. Biery, Thousand Oaks’ finance director.

Thousand Oaks collected the most sales tax of any Ventura County city and also posted the largest increase. The city collected $341.2 million in the second quarter of 1994, an increase of 17.3%.

But in a departure from the statewide trend, Biery said Thousand Oaks expects the first two quarters of 1994 to be better than the last two.

Biery said that when 1994 figures are finally computed, he expects the city to post an increase of about 10% to 12%. He said, through the first three quarters of 1994, the city posted gains of about 14%.

“I think one of the main kickers was the earthquake,” Biery said. He said shoppers who normally buy in the San Fernando Valley began shopping in Thousand Oaks after their local stores were damaged in the Northridge earthquake.

He said Thousand Oaks expects to receive about $13.6 million in sales tax money in 1994.

The cities of Santa Paula and Simi Valley each posted gains of 11%, while Fillmore, Ojai and Port Hueneme all posted slight declines.