Atherton sales tax revenue up, Menlo Park down
Thanks to Patrick Twohy of the San Francisco Business Times, we learned about the year end figures for sales tax receipts, which the state of California distributes back to the cities where the transactions took place. Twohy posted a widget on the Business Times website that shows what each city in a given county received from income distributed from California’s 1% sales and use tax.
The city of Menlo Park’s sales tax distribution was down 15% in 2011 from 2010; the latest three month average was $325,835 compared to $384,051. That doesn’t seem surprising given the sluggish economy.
Atherton is another story. Given that there is little retail business generating sales tax in town, it’s not surprising that the latest three month average recorded in 2011 is $11,554. But what is surprising is that compares to just $5,973 in 2010, an increase of 93%.
Our question: what came to Atherton in 2011 that would cause sales tax receipts to double?