The state has distributed almost as much sales tax money to Seal Beach in the first half of 2015 as the city brought in during all of 2014, according to figures recently posted on the Board of Equalization website.
When you buy anything in Seal Beach, you pay an 8 percent sales tax. The Board of Equalization pays back one-eighth of that money to Seal Beach. The state issues two advance payments each month based on sales tax revenues that were collected the previous year. Three months later, the state either (1)makes a third payment if actual revenues were greater than the two advance payments or (2)takes money back from the city.
As of June 2015, Seal Beach has received more than $3.1 million. In the year 2014, Seal Beach took in about $3.3 million in sales tax money. It will be September when the actual June sales tax revenues are known.
