Economic Indicators Report: Sales Tax Receipts Up 1.4 Percent

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The latest Economic Indicators report is out and you can see what’s up and what’s down in our local economy. Sales tax receipts were up slightly in Fiscal Year (FY) 2016, which was July 1, 2015 to June 30, 2016.

These monthly reports serve as one of the tools used by our budget staff and the Board of Supervisors to make decisions on the county’s budget. The Fiscal Year 2017 Budget  became effective on July 1.

Read the Latest Report

 

What’s Up

Tax Revenue: Sales Tax receipts distributed to Fairfax County in FY 2016 were $178.7 million, an increase of 1.4 percent compared to FY 2015.

Home Sales Prices: In June 2016, the average sales price of all homes sold in the county increased 3.8  percent compared to the average sales price in June 2015.

Home Building Permits: The number of single family building permits issued in the county were up 6.6 percent during the first six months of 2015.

What’s Down

Jobs: The May unemployment rate in Fairfax County was 2.9 percent, an increase of 0.3 percent from April. The number of unemployed residents increased over the month from 16,295 to 18,051.

Home Listings: The number of active listings of homes for sale in the county decreased 9.4 percent in June from a year ago.

Home Sales Volume: In June, 1,851 homes were sold in Fairfax County, a decrease of 0.5 percent from the 1,861 homes sold in June 2015.

 

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