A dramatic decline in sales tax revenues from pre-pandemic levels is a sign of the ongoing retail collapse in downtown San Francisco, the result of a pandemic exodus, as well as mass looting events and urban decay.
San Francisco’s sales tax revenue in 2022 was about $141 million, a nearly 22% decrease from the $181 million — adjusted for inflation — generated in 2019.
Downtown revenues dove even more. Revenue from business in the South of Market neighborhood fell by 34%, from $21 million in 2019 to $14 million in 2022. The Financial District/South Beach area, which still produces the most sales tax revenue of any neighborhood, dropped around 30% from $41 million to $28 million.
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