Sonora’s Tax Revenue Beating Initial Budget Expectations ...Middle East

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Sonora’s Tax Revenue Beating Initial Budget Expectations
Sonora, CA — Revenues are coming in higher than anticipated according to the City of Sonora’s mid-year budget report. It will be discussed at tonight’s Sonora City Council meeting. The city leaders passed a $17.9 million budget in June for the fiscal year that started July 1st. The Measure Y Sales tax revenues are beating estimates by $300,000, Transient Occupancy Tax is $25,000 higher than expected, marijuana payments from the city’s two dispensaries are $105,000 higher than initial projections, and interest yields are up 400% leading to an increased yield on city funds ($152,000). The one area lagging is building permit revenues which are below estimates by $30,000. The city cites a declin

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