Economy

October 26, 2008

Lagging car sales hurting California's city's budget

A double economic whammy of high gas prices and the current credit crunch has caused sales to drop at some of the central California coast'sauto dealerships and hurt cities that depend on the sales tax. San Luis Obispo, for example, saw a 10.4 percent decline in sales tax revenue from autos and transportation in the second quarter of this year, compared to the same period a year ago, according to HdL Companies, a sales tax consultant for city government.

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