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Secured Property Tax Revenue <br /> <br /> 4O <br /> <br /> o 25 <br /> <br /> 20 <br /> <br /> 15 <br /> <br /> 97-96 98-99 99-00 00-01 01-02 02-03 03-04 04-05* 05-06" 06-07' <br /> * Projected <br /> <br />While the City saw a sharp one-time increase in sales tax revenue from $17.5 million <br />in 1999-00 to $21 million in 2000-01, the revenue fell back to $17.3 million in <br />2001-02, due primarily to the loss of significant business to business sales tax <br />activity. In the subsequent three years, this revenue has starting to slowly grow again. <br />The current projection for 2004-05 is $18.7 million, and for the two-year projected <br />budget, staff is assuming sales taxes will show moderate growth of about 5% <br />annually, to $19.6 million in 2005-06 and $20.6 million in 2006-07. While the City <br />now only gets 75% of its former sales tax directly as part of the "Triple Flip" <br />implemented by the State last year, under this plan the City will be compensated for <br />the 25% loss. Therefore, for the purposes of year-to-year comparisons, staff is <br />including the 25% sales tax compensation as part of the total projected sales tax in the <br />table below and throughout the budget document. <br /> <br /> Sales Tax Revenue <br /> <br /> 22i <br /> <br /> e 20 <br /> <br /> 18 <br /> <br /> 97-98 98-99 99-00 00-01 01-02 02-03 03-04 04-05' 05-06* 06-07* <br /> * Projected <br /> <br /> b42 <br /> <br /> <br />