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Property Tax: ' Property tax is budgeted at $43.6 million and is expected to be higher than budget estimates. This is primarily due to revised estimates provided by the County Assessor. The initial budget estimate assumed a 8.7% increase and that has now been revised by the County Assessor to 9.1%. However, projections from the County Assessor assume slower growth next fiscal year of 6.5%. Sales Tax: Sales tax is budgeted at $21.2 million and is expected to meet budget estimates, which only requires that sales tax increases 0.5% over the prior year actual. However, sales tax receipts for the third quarter when compared to the prior year third quarter is down 2.3%. Decreased sales from new auto dealerships, restaurants-beer & wine only, and some categories of general consumer goods were the areas that contributed to the slight decline. This is consistent with local and regional economic performance for the third quarter as Alameda County decreased .07% while the Bay Area was up only 1.8%. Development Services Fees: ~•' Development Services Fees overall are at 74% with 75% of the fiscal year completed. Planning fees have exceeded budget estimates primarily due to EIR fees for a number of projects. Hotel & Motel Tax: ~~' Hotel & Motel Tax is budgeted at $3.0 million and is expected to exceed the budget estimate. With 75% of the fiscal year completed, only 57% of the budget estimate has been realized. This is because the tax is due 30 days after the end of the quarter. Receipts through March 31st would only reflect 2 quarters collections. Business License Tax: '~' Business License Tax is budgeted at $3.0 million and is expected to exceed the budget estimate. With 75% of the fiscal year completed 94% of the budget estimate has been ~~~ Good. Positive Indicator ~ Caution. Unsettled Indicator ~ Problem. Negative Indicator