Sales tax revenue in Cerritos increased in the third quarter of 2012 by 12.3 percent compared to 2011's third quarter, according to a recent report by HdL Cos.
HdL also reported that taxable sales for all of Los Angeles County increased by 5.8 percent, and sales tax revenues for the Southern California region as a whole was up 6.7 percent.
HdL Cos. help cities, counties, redevelopment agencies, and special districts maximize revenues through allocation audits, financial and economic analysis, and the provision of related software products. The companies serve over 335 local governments across the nation and North America.
According to HdL, Cerritos' double-digit tax increase came from the Cerritos Auto Square's continued strong sales and leasing of new vehicles. Retail spending on women's and family apparel, sporting goods and department store purchases in Cerritos has also increased.
Higher sales at restaurants in Cerritos were also listed as contributing factors. A larger portion from the countywide use tax pool also contributed to the increase.
"The city of Cerritos is dedicated to providing an environment where businesses can grow and succeed," said Mayor Jim Edwards in a statement. "We are proud that Cerritos retail centers such as the Cerritos Auto Square, Los Cerritos Center and Cerritos Towne Center draw customers from throughout the region."
Sales tax revenues help fund city services such as community safety, the Cerritos Library, parks and recreation programs, and the Cerritos Senior Center, he said.