Park City’s economy saw a “very slight decline” in June sales tax revenue compared to the previous fiscal year, according to a staff report made available ahead of Thursday’s city council meeting. Excluding Transit and Transient Room taxes, sales tax fell by a “very modest 2.5% (-$53,579) compared to June 2023,” the report reads. Transit sales tax also decreased a bit by 2.2%, or -$14,801, the report said. Transient Room taxes had the smallest decline of 0.92%, or -$1,590.Because of the decline, the city’s sales tax revenue for June 2024 is 3% less than it was June 2024, the report said. “Despite this decrease, our conservative projection and forecasting principles have kept us on track, with General Fund sales tax revenues 4.5% ($880,625) above the City’s cumulative year-to-date budget and 2.7% ($531,851) higher than the year-to-date actuals from last year,” the report reads.Hotel occupancy rates were steady compared to last year, and the report indicates the month saw a 9% overall activity increase based on visitor cell phone data. The 12% reduction in tax filing entities in June could explain the overall slight decline, the report said, though having fewer filers is “somewhat common” and doesn’t necessarily mean there are fewer businesses. “For example, in May of this year, there was a 24% increase in taxing entitiesfrom the previous year,” the report said.Still, the fiscal year ended strong, and overall sales tax revenue actually rose by 2.8%, or $1,317,193 year over year.The post June sales tax revenue dips compared to 2023, but overall sales tax revenue is up appeared first on Park Record.