Gains in 1st-Quarter Taxable Sales May Be Reason for Optimism in O.C.
If first-quarter taxable sales are any indication, Orange County may be showing renewed economic strength. January through March activity increased from the same period of 1991. And for the first time in 18 months, more Orange County cities registered an increase in sales than a decrease. Sales figures still did not reach the level of the first three months in 1990, before the recession.
Who Is Generating Revenue
Orange County recorded nearly 10% of California’s taxable transactions during the first quarter. Only Los Angeles and the combined Bay Area counties had higher totals. By counties, in billions of dollars Los Angeles: $17.5 Orange: $6.2 Riverside/San Bernardino: $4.8 San Diego: $4.9 San Francisco Bay Area*: $10.2 Rest of state: $18.8 * Includes Alameda, Contra Costa, Marin, San Francisco, San Mateo and Santa Clara counties.
Countywide Taxable Sales
First-quarter taxable sales were up slightly from last year, although 1992 taxable sales were still the second lowest in four years. In billions of dollars 1986: $4.89 1987: $5.4 1988: $5.7 1989: $6.2 1990: $6.6 1991: $6.2 1992: $6.2
Gains and Declines
More than half of Orange County’s cities saw an increase in taxable revenue compared to a year earlier. It is the first time in six quarters that there have been more gains than declines in the county.* More than 10%: 3 5.1% to 10.0%: 4 0.1% to 5.0%: 9 0% to -5.0%: 7 -5.1% to -10%: 4 -10% and below: 2
City-by-City Breakdown
Yorba Linda, La Palma and Laguna Niguel posted big gains in first-quarter revenue compared to last year, while Newport Beach had substantially lower taxable sales. (In thousands of dollars)
First Qtr. First Qtr. Percent City 1991 1992 Change Anaheim $634,959 $635,444 + .08 Brea 150,345 151,839 + 1.0 Buena Park 175,337 166,987 - 4.8 Costa Mesa 473,078 478,620 + 1.2 Cypress 70,946 76,234 + 7.5 Dana Point 45,530 40,326 -11.4 Fountain Valley 150,368 152,478 + 1.4 Fullerton 271,481 270,801 - 0.3 Garden Grove 252,048 240,348 - 4.6 Huntington Beach 333,802 328,983 - 1.4 Irvine 475,235 495,998 + 4.4 Laguna Beach 44,972 42,315 - 5.9 Laguna Hills* N/A 82,488 N/A Laguna Niguel 60,304 71,709 +18.9 La Habra 87,170 86,121 - 1.2 Lake Forest* N/A 92,182 N/A La Palma 23,013 27,640 +20.1 Los Alamitos 42,646 38,786 - 9.1 Mission Viejo 111,103 117,005 + 5.3 Newport Beach 268,411 204,311 -23.9 Orange 396,943 398,403 + 0.4 Placentia 56,235 53,273 - 5.3 San Clemente 50,785 51,638 + 1.7 San Juan Capistrano 66,995 66,008 - 1.5 Santa Ana 534,390 585,672 + 9.6 Seal Beach 26,091 26,099 + .03 Stanton 53,088 49,366 - 7.0 Tustin 191,297 200,506 + 4.8 Villa Park 3,836 4,117 + 7.3 Westminster 173,934 173,241 - 0.4 Yorba Linda 48,367 67,395 +39.3 TOTAL $6,164,363 $6,178,960 + 0.2
* Laguna Hills and Lake Forest did not have taxable sales in first quarter 1991 because they were not incorporated at the time.
Source: State Board of Equalization
