Kenai Peninsula Borough

Kenai Peninsula Borough
Community and Economic Development Division
Quarterly Report of Key Economic Indicators for Period Ending March 31, 2005

Kenai Peninsula Borough Sales

Sales tax records provide data useful for predicting economic trends and provide a basis for administrative decisions. Data collected are specific to the area collecting and reporting sales but by combining data from reporting communities, KPB trends can be determined. Reported data changes each quarter as corrected and/or delinquent sales tax returns are recorded. Routinely, three years or twelve quarters of information are revised each quarter, while at times revisions may go back five years or more. Sales data is provided by the KPB Finance Department, Sales Tax Division.

Note - Homer sales reflect changes due to annexation of 4.58 square miles which increased Homer's total area to 25.58 square miles. The annexation took effect April 1, 2002.

KPB sales figures include detail from Homer, Kenai, Seldovia, Seward, Soldotna and “KPB unincorporated” areas. “KPB unincorporated” indicates areas within the KPB but outside the boundaries of the five incorporated cities. It also includes Kachemak City, which does not impose a sales tax. The 2% KPB sales tax is included in the city rates listed below, with revenues dedicated to funding the KPB school district. The balance is the tax imposed by each city and revenues are managed by that city.

The KPB does not provide an incentive for reporting non taxable sales, resulting in incomplete gross sales data.

6.5%	5.5%	5.0%	4.0%	2.0%
Seldovia	Homer	Kenai	Seldovia	KPB Unincorporated
(April - September)		Seward	(October - March)
		Soldotna

Gross and Taxable Sales data are received quarterly through Sales Tax Returns from businesses within the KPB. Sales that are exempt from sales tax include:: Sales outside the borough;; Sales for resale;; Sales to government agencies;; Sales to tax exempt organizations; and; Sales in excess of $500.

Industry abbreviations used include the following:

AFF - Agriculture, Forestry and Fisheries - includes fish buyers;

Min - Mining - includes Oil & Gas extraction;

Const - Construction;

Manu - Manufacturing - includes Oil & Gas Manufacturing and Fish Processing;

TCPU - Travel, Communications and Public Utilities;

Whole - Wholesale Trade;

Retail - Retail Trade;

FIRE - Finance, Insurance and Real Estate;

Service - Services;

Govt - Public Administration, Education and Services.