2022 Q1 Sales Tax Figures Released

October 6, 2022 11:46 AM
by Jennifer Taylor

Recently released 2022 1st Quarter sales tax reports for the City of Santa Monica show positive trends. In reports comparing the 2022 Q1 data to the 2021 Q1 data, significant increases in sales tax across various sectors including increased brick and mortar retail are clear.

Here are a few highlights from the most recent report:

The robust increases indicated above across multiple sectors like travel, tourism, and hospitality provide continued evidence that the City of Santa Monica continues to advance our recovery, and greater support of local businesses allows for the community to see the benefits of their tax dollars through funding the City’s general operations and more.

The Top Sales Tax Producers in Santa Monica include:

  1. Apple
  2. Audi Leasing
  3. Bentley Leasing
  4. Bourget Bros Building Materials
  5. Daimler Trust
  6. Fairmont Miramar Hotel
  7. Ferguson Enterprises
  8. Genesis Santa Monica
  9. Honda Santa Monica
  10. Jaguar Santa Monica
  11. Land Rover Santa Monica
  12. JP Morgan Chase Bank
  13. Lexus Santa Monica
  14. Michael Smith Design
  15. Ring
  16. Santa Monica Audi
  17. Santa Monica BMW
  18. Santa Monica Ford Lincoln
  19. Shutters on the Beach
  20. Snyder Diamond
  21. Subaru Santa Monica
  22. Tesla Motors
  23. Toyota Lease Trust
  24. Toyota Santa Monica
  25. Volkswagen Santa Monica
  26. Water Grill/Pier Burger
  27. WI Simonson Mercedes

The data shows that people are buying local - from purchasing or leasing cars at auto dealers in Santa Monica, to dining at local restaurants, and buying food from Santa Monica grocery stores and neighborhood markets. We are also pleased to welcome back regional and international visitors to our hotels and restaurants. Collectively, these efforts help our local economy move forward and important sales tax revenue is generated and re-invested back into the community. Supporting businesses in Santa Monica is supporting our community.

The third highest generator of sales tax revenue in Santa Monica (by major industry group) comes from the State and LA County Pools, comprised of 19% of the City’s total Q1 2022 sales tax revenue and is primarily attributed to online shopping. This revenue source has increased by 20% from last year. When residents shop from companies online, the sales tax revenue generated from purchases goes into the countywide tax pool, which Santa Monica only receives about 2 cents from every dollar of sales tax. Comparatively, when retail activity is done at local brick and mortar businesses within Santa Monica, 20 cents of every dollar of sales tax goes back to the City and half of that is specifically re-invested into the community by funding schools and affordable housing in Santa Monica.

Many signs have continued to show Santa Monica is moving forward in its economic recovery, and this would not be possible without the support of our community. Remember to shop local and think Santa Monica first. For more information about Buying Local in Santa Monica, follow the hashtag #BuyLocalSM or visit our Buy Local Santa Monica website by visiting www.santamonica.gov/programs/buy-local-santa-monica.

Authored By

Jennifer Taylor
Economic Development Manager