San Francisco’s Sales Tax Revenue Tumbles Despite Tourism Boom

SAN FRANCISCO—San Francisco’s sales tax revenue, a key metric of economic activity, dipped during the last three quarters of 2023 compared to the same period the prior year, according to data released on April 15 by the Controller’s Office. Citywide sales tax in the last three quarters of 2023 totaled $105,755,003. It fell 5.3 percent compared to the same period in 2022. The consecutive quarterly decline, considered an alarming sign of economic struggle, broke the trend in which the city’s economy was slowly reviving after the COVID-19 pandemic. However, the sales tax in the first quarter of 2023, usually the lowest of the year, reached $32,878,206, a 6.1 percent increase compared to Q1 of 2022....