HomeMy WebLinkAbout01. 250505_Revenue_Update1
TOWN OF VAIL
REVENUE UPDATE
May 6, 2025
4.0% General Sales Tax
Upon receipt of all sales tax returns, March 2025 collections are estimated to be
$6,240,553, down (2.7)% from 2024 and up 1.3% from the budget. In-town
businesses were collectively down (7.1)%, however sales of products
delivered into Vail by out-of-town retailers partially offset these decreases.
Historically, the timing of the Easter holiday has influenced sales tax collections
for the months of March and April. In 2024, Easter fell on March 31, which led to
increased visitation and a corresponding rise in March sales tax collections,
followed by a decline in April collections compared to 2023.
In 2025, Easter fell on April 20, which may have shifted visitation later in the
season, potentially increasing April collections compared to the prior year,
offsetting the decrease in March collections.
2025 YTD collections of $18,427,693 are up 0.7% from 2024 and up 2.3% from
the budget. In town businesses are collectively down 1.6% however sales of
products delivered into Vail by out of town retailers have offset these
decreases resulting in an increase of overall sales tax collections compared
to prior year. Inflation as measured by the consumer price index was up 2.4% for
the 12-months ending March 2025. The annual budget totals $42.1 million.
0.5% Housing Fund Sales Tax
Upon receipt of all sales tax returns, March 2025 collections of the 0.5% housing
sales tax are estimated to be $762,323, down (2.7)% from 2024 and down (1.0)%
from the budget. 2025 YTD collections of $2,246,526 are up 0.8% from 2024 and
up 0.5% from the budget. The annual budget for the housing fund sales tax totals
$5.2 million.
Real Estate Transfer Tax (RETT)
RETT collections through April 28 total $2,783,850, down (10.8)% from 2024. The
number of property sales (excluding time-shares) is tracking down (32.6)% from
2024, while the average collection is tracking up 32.5%. The budget for RETT
collections totals $7.7 million for 2025.
Construction Use Tax
Use Tax collections through April 28 total $543,195 compared to $495,237 in 2024.
The budget totals $2.5 million for 2025.
Lift Tax
Lift tax collections for March 2025 total $4,614,362, up 0.6% or $28,866 from
March 2024. The budget totals $6,915,427.
2
Daily Parking Sales
Daily sales from the parking structures from November through April (end of ski
season) total approximately $7,263,390, down (3.3)% from time last year. This
amount includes daily fees charged to the parking pass holders.
Parking Pass Sales
Parking pass sale revenue through for the 2024/2025 winter season totaled
$1,233,219, up 7.9% or $90,763 from the 2023/2024 winter season. In order to
provide a better customer service experience while staff explored a new pass sales
system, the annual fees for the Eagle County Local and Vail Local passes and
were automatically renewed for the 2023/2024 winter season. A total of 4,550
passes have been sold this season compared to the 4,536 passes purchased and
utilized to date during the prior winter season. Had the town not waived fees for
local passes, pass sales would be down $(19,287) or (1.6)% from the prior season.
Pass Type
2024/25
Season
Sales
2023/24
Season
Sales
2023/24 Auto-
Renewed
Passes
Utilized
Total 2023/24
Pass
Sales/Utilized
Change
from
prior
season
Premier 21 25 - 25 (4)
Vail Village Business Premier 69 60 - 60 9
Lionshead Business Premier 7 5 - 3 2
Employee 488 427 - 427 61
Employee Plus 330 351 - 351 (21)
Eagle County Local 1,924 397 1,489 1,886 38
Vail Local 1,711 358 1,424 1,782 (71)
Total 4,550 1,623 2,913 4,536 14
2025 Budget % change % change
2020 2021 2022 2023 2024 Budget Variance from 2024 from Budget
January 4,076,145$ 3,422,209$ 5,217,125$ 5,911,572$ 5,805,199$ 5,791,927$ 5,938,394$ 146,467$ 2.29%2.53%
February 4,285,633 3,691,850 5,686,585 6,041,108 6,080,349 6,063,693 6,248,745 185,052 2.77%3.05%
March 2,243,518 4,364,797 5,912,059 6,055,992 6,412,535 6,162,148 6,240,553 78,405 -2.68%1.27%
YTD 10,605,296$ 11,478,857$ 16,815,769$ 18,008,672$ 18,298,082$ 18,017,768$ 18,427,693$ 409,925$ 0.71%2.28%
April 427,518 1,751,528 2,234,296 2,264,892 1,842,893 2,082,859 -
May 503,828 1,061,516 1,227,974 1,118,011 1,176,629 1,152,860 -
June 1,023,517 2,149,312 2,317,931 2,272,457 2,361,482 2,355,770 -
July 2,084,644 3,491,668 3,507,973 3,412,277 3,643,192 3,629,309 -
August 2,138,838 2,877,550 2,997,389 2,932,111 3,052,213 3,038,643 -
September 1,767,393 2,359,528 2,441,331 2,508,064 2,415,397 2,414,174 -
October 1,371,727 1,734,964 1,729,558 1,773,358 1,753,419 1,752,419 -
November 1,425,461 1,880,397 1,902,643 1,901,141 1,844,461 1,843,961 -
December 3,625,189 5,749,365 5,602,018 5,811,950 5,789,893 5,776,237 -
Total 24,973,411$ 34,534,683$ 40,776,882$ 42,002,933$ 42,177,661$ 42,064,000$ 18,427,693$ 409,925$ 0.71%2.28%
2025 Budget % change % change
2022 2023 2024 Budget Variance from 2024 from Budget
January 645,487$ 720,906$ 705,167$ 711,525$ 722,775$ 11,250$ 2.50%1.58%
February 702,730 736,788 741,549 753,337 761,428 8,091 2.68%1.07%
March 719,717 738,244 783,123 769,644 762,323 (7,321) -2.66%-0.95%
YTD 2,067,934$ 2,195,938$ 2,229,839$ 2,234,506$ 2,246,526$ 12,020$ 0.75%0.54%
April 269,018 271,930 222,032 249,107 -
May 146,657 132,333 139,793 143,483 -
June 280,460 275,113 284,485 291,846 -
July 424,602 412,849 439,142 448,039 -
August 361,165 352,887 369,212 377,205 -
September 294,861 304,068 293,066 299,772 -
October 207,397 213,568 210,364 217,051 -
November 230,383 229,092 222,639 228,495 -
December 671,982 703,050 699,750 712,030 -
Total 4,954,459$ 5,090,828$ 5,110,322$ 5,201,534$ 2,246,526$ 12,020$ 0.75%0.54%
Town of Vail Revenue Update
May 6, 2025
4.0% GENERAL SALES TAX2025 Budget Comparison
Actual 4.0% Collections
0.5% HOUSING SALES TAX2025 Budget Comparison
4.0% Collected
Sales Tax
Actual 0.5% Collections 0.5% Collected
Sales Tax
Through March 31
March 4% General Sales Tax Collections By Year
Through March 31
Town of Vail Revenue Update
YTD 4% General Sales Tax Collections By Year
May 6, 2025
•March collections of $6,240,553 are down (2.7%) from prior year and are up 1.3% from the budget.
$4,364,797
$5,912,059
$6,055,992
$6,412,535
$6,240,553
$0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000
2021
2022
2023
2024
2025
$11,478,857
$16,815,769
$18,008,672
$18,298,082
$18,427,693
$0 $5,000,000 $10,000,000 $15,000,000 $20,000,000
2021
2022
2023
2024
2025
•YTD collections of $18,427,693 are up 0.7% from prior year and are up 2.3% from the budget.
•Inflation as measured by the consumer price index was up 2.4% for the 12-months ending March
2025.
March Collections YTD Collections
Town of Vail Revenue Update
May 6, 2025
March 0.5% Housing Fund Sales Tax Collections By Year
Real Estate Transfer Tax by Year
YTD Through April 2025
•This chart shows YTD collections of 1% RETT, segmented by real property values. 2025
collections are down (10.8)% from the prior year.
$2,849,638 $2,816,126
$1,897,504
$3,119,761
$2,783,850
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
2021 2022 2023 2024 2025
Sales Less Than $2.5 Million Sales $2.5 to $5 Million Sales $5 to $10 Million Sales Over $10 Million
•March collections of $762,323 are down (2.7%) from prior year and are down (1.0%) from the
budget. YTD collections of $2,246,526 are up 0.8% from this time last year and are up 0.5%
from the budget.
$719,717 $738,244 $783,123 $762,323
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000
2022 2023 2024 2025
$2,067,934
$2,195,938 $2,229,839 $2,246,526
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
2022 2023 2024 2025
Town of Vail Revenue Update
May 6, 2025
Construction Use Tax by Year
YTD Through April 2025
YTD Lift Tax Collections
YTD Through March 2025
•Use Tax collections through April 28 total $543,195 compared to $495,237 from this time last
year. This is an increase of 9.7%.
$1,212,991
$599,518
$695,078
$495,237 $543,195
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
2021 2022 2023 2024 2025
•2025 YTD lift tax collections of $4,614,362 are up 0.6% or $28,866 from the same time last year.
$3,669,127
$4,285,902
$4,265,597
$4,585,496
$4,614,362
$0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000
2021
2022
2023
2024
2025
Vail Business Review
March and Q1 2025
May 6, 2025
The Vail Business Review breaks down the 4.5% sales tax collected for the month of
March and the first quarter of 2025. The 4.5% sales tax includes the town’s general 4%
sales tax and the 0.5% housing sales tax supported by Town of Vail voters during the
November 2021 election, effective January 1, 2022. The housing sales tax sunsets on
December 31, 2051.
March 4.5% sales tax was down (2.8)% from the prior year. Retail increased 2.0%,
lodging decreased (7.2)%, food and beverage decreased (2.6)%, and utilities/other
increased 9.7%. Excluding the out-of-town category, sales tax for the month of March
was down (7.1)% compared to prior year.
Q1 4.5% sales tax was up 0.7% from the prior year. Retail increased 2.1%, lodging
decreased (1.5)%, food and beverage increased 3.6%, and utilities/other increased
1.4%. Excluding the out-of-town category, sales tax for the Q1 was down (1.6)%
compared to Q1 of the prior year.
Town of Vail sales tax forms, the Vail Business Review, and sales tax worksheets are
available on the internet at vail.gov. You may email me to request to have the Vail
Business Review and the sales tax worksheet emailed to you automatically.
Please remember when reading the Vail Business Review that it is produced from sales
tax collections as opposed to actual gross sales.
If you have any questions or comments, please feel free to call me at (970) 479-2125 or
Carlie Smith, Finance Director, at (970) 479-2119.
Sincerely,
Lauren Noll
Revenue Manager
March 2024
Sales Tax Collections by Business Type
March 2025
Town of Vail Business Review
March Sales Tax Collections by Year
March 2025 Sales Tax
2,230,803
Lodging
2,983,939
Food &
Beverage
1,459,937 Utilities &
Other
327,361
$0
$400,000
$800,000
$1,200,000
$1,600,000
$2,000,000
$2,400,000
$2,800,000
$3,200,000
2.0% (2.6)%9.7%
Retail
4,365,341
6,636,355
6,790,224
7,199,895
7,002,040
$0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000
2021
2022
2023
2024
2025
General Sales Tax
Housing Sales Tax
• March 2025 retail sales increased 2.0%, lodging decreased (7.2)%, food and beverage decreased
(2.6)%, and utilities and other increased 9.7%.
• The figures above reflect 4.5% sales tax.
Retail
2,186,649
Lodging
3,215,899
Food &
Beverage
1,498,977
Utilities &
Other
298,370
$0
$400,000
$800,000
$1,200,000
$1,600,000
$2,000,000
$2,400,000
$2,800,000
$3,200,000
(7.2)%
• This report represents collections of Town of Vail sales tax, as opposed to actual gross sales.
• On January 1st, 2022, Town of Vail sales tax increased from 4.0% to 4.5% on all items except food for
home consumption. 2022-2025 above include the 0.5% increase to sales tax, depicted in light blue.
2021 shows 4.0% sales tax collections.
• Total March 2024 collections were $7,199,895; March 2025 collections were $7,002,040, down from the
prior year (2.8)%.
March 2025 Sales Tax
Town of Vail Business Review
March 2024March 2025
Geographic Area Trends by Year
March Sales Tax
Sales Tax by Location
Other Areas
14%
Lionshead
19%
Out of
Town
19%
Vail Village
48%
• Vail Village sales tax decreased (5.8)%, Lionshead decreased (9.2)%, Other Areas decreased (8.8)%, and
Out of Town increased 16.0%. Excluding Out of Town collections, all areas were down (7.1)%.
• The figures above reflect 4.5% sales tax.
598,176
975,654
852,756
1,237,376
960,417
1,350,873
1,953,991
3,072,453
$0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $3,500,000
2021
2022
2023
2024
2025
Vail Village
Out of Town
Lionshead
Other Areas
3,078,9191,475,020
1,269,657966,627
• This chart shows March sales tax collections by geographic area over time.
• 2022-2025 include the 0.5% increase for housing sales tax, depicted in lighter shades. General
4.0% sales tax collections are shown in darker shades.
1,001,527 1,363,699
1,365,190 3,469,479
3,267,037
1,238,273
1,583,562
913,168
Other Areas
13%
Lionshead
18%
Out of
Town
22%
Vail Village
47%
Accommodation Services Sales Tax by Year
Retail Business 4.5% Sales Tax Detail
March 2025 Sales Tax
Town of Vail Business Review
Apparel
$519,257
Grocery
$240,511
Gallery
$10,021
Gifts
$12,892
Jewelry
$93,857
Retail Liquor
$74,850
Retail Other
$538,644
Sporting Goods
$609,969
Online Retailers
$130,652
Retail Home
Occupation
$151
• March 2025 accommodations services decreased (7.2)% from the prior year. Short-term rentals decreased
(8.1)% and hotels and lodges decreased (6.8)%.
•The figures above reflect 4.5% sales tax.
• Short-term rental sales tax collection numbers include online marketplace facilitators like Airbnb and VRBO.
Revenue collections from facilitators may include some hotels and lodges that advertise and rent properties
on these platforms.
2,165,596
914,786
2,237,805
978,094
2,084,989
898,951
$0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000
Hotel and Lodges
Short-Term Rentals
2025 2024 2023
Retail 250,983 283,679 ‐11.53%
Lodging 527,531 546,291 ‐3.43%
F & B 127,134 166,150 ‐23.48%
Other 7,520 5,407 39.09%
Total 913,168 1,001,527 ‐8.82%
Retail 320,979 368,232 ‐12.83%
Lodging 658,921 737,640 ‐10.67%
F & B 254,598 253,166 0.57%
Other 3,775 4,661 ‐19.00%
Total 1,238,273 1,363,699 ‐9.20%
Retail 588,659 402,437 46.27%
Lodging 717,866 724,616 ‐0.93%
F & B 2,948 3,530 ‐16.49%
Other 274,088 234,608 16.83%
Total 1,583,562 1,365,190 16.00%
Retail 1,070,181 1,132,301 ‐5.49%
Lodging 1,079,621 1,207,352 ‐10.58%
F & B 1,075,258 1,076,131 ‐0.08%
Other 41,978 53,694 ‐21.82%
Total 3,267,037 3,469,479 ‐5.83%
Retail 2,230,803 2,186,649 2.02%
Lodging 2,983,939 3,215,899 ‐7.21%
F & B 1,459,937 1,498,977 ‐2.60%
Other 327,361 298,370 9.72%
Total 7,002,040 7,199,895 ‐2.75%
Retail Apparel 519,257 503,106 3.21%
Retail Food 240,511 267,202 ‐9.99%
Retail Gallery 10,021 19,909 ‐49.67%
Retail Gift 12,892 8,938 44.23%
Retail Home Occupation 151 326 ‐53.77%
Retail Jewelry 93,857 90,768 3.40%
Retail Liquor 74,850 88,102 ‐15.04%
Retail Other 538,644 354,207 52.07%
Retail Sport 609,969 738,377 ‐17.39%
Retail Online Retailer 130,652 115,713 12.91%
Total 2,230,803 2,186,649 2.02%
Cascade Village / East Vail / Sandstone / West Vail
Town of Vail Business Review
March 4.5% Sales Tax
2025 Collections 2024 Collections YoY % Change
Total ‐ All Areas
Lionshead
Out of Town
Vail Village
Retail Summary
Q1 2024
Sales Tax Collections by Business Type
Q1 2025
Town of Vail Business Review
Q1 Sales Tax Collections by Year
Q1 2025 Sales Tax
6,141,795
Lodging
9,221,788
Food &
Beverage
4,303,904 Utilities &
Other
1,004,017
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
$8,000,000
$9,000,000
$10,000,000
2.1% 3.6%1.4%
Retail
11,472,026
18,906,661
20,178,089
20,519,875
20,671,505
$0 $5,000,000 $10,000,000 $15,000,000 $20,000,000
2021
2022
2023
2024
2025
General Sales Tax
Housing Sales Tax
• Q1 2025 retail sales increased 2.1%, lodging decreased (1.5)%, food and beverage increased
3.6%, and utilities and other increased 1.4%.
• The figures above reflect 4.5% sales tax.
Retail
6,013,114
Lodging
9,362,518
Food &
Beverage
4,153,565 Utilities &
Other
990,678
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
$8,000,000
$9,000,000
$10,000,000
(1.5)%
• This report represents collections of Town of Vail sales tax, as opposed to actual gross sales.
• On January 1st, 2022, Town of Vail sales tax increased from 4.0% to 4.5% on all items except food for
home consumption. 2022-2025 above include the 0.5% increase to sales tax, depicted in light blue.
2021 shows 4.0% sales tax collections.
• Total Q1 2024 collections were $20,519,875; Q1 2025 collections were $20,671,505, up from the prior
year 0.7%.
Q1 2025 Sales Tax
Town of Vail Business Review
Q1 2024Q1 2025
Geographic Area Trends by Year
Q1 Sales Tax
Sales Tax by Location
Other Areas
15%
Lionshead
19%
Out of
Town
20%
Vail Village
46%
• Vail Village sales tax remained flat, Lionshead decreased (4.3)%, Other Areas decreased (3.4)%, and Out
of Town increased 9.9%. Excluding Out of Town collections, all areas were down (1.6)%.
• The figures above reflect 4.5% sales tax.
1,632,130
2,781,520
2,110,900
3,553,429
2,722,034
4,076,767
5,006,961
8,494,945
$0 $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000
2021
2022
2023
2024
2025
Vail Village
Out of Town
Lionshead
Other Areas
9,141,0794,392,607
3,829,4952,814,907
• This chart shows Q1 sales tax collections by geographic area over time.
• 2022-2025 include the 0.5% increase for housing sales tax, depicted in lighter shades. General
4.0% sales tax collections are shown in darker shades.
2,971,138
3,942,807
4,146,560 9,459,370
9,471,447
3,773,146
4,556,764
2,870,149
Other Areas
14%
Lionshead
18%
Out of
Town
22%
Vail Village
46%
Accommodation Services Sales Tax by Year
Retail Business 4.5% Sales Tax Detail
Q1 2025 Sales Tax
Town of Vail Business Review
Apparel
$1,402,488
Grocery
$750,152
Gallery
$32,544
Gifts
$34,168
Jewelry
$263,175Retail Liquor
$216,115
Retail Other
$1,235,293
Sporting Goods
$1,761,922
Online Retailers
$445,486
Retail Home
Occupation
$453
• Q1 2025 accommodations services decreased (1.5)% from the prior year. Short-term rentals decreased
(2.7)%and hotels and lodges decreased (1.0)%.
•The figures above reflect 4.5% sales tax.
• Short-term rental sales tax collection numbers include online marketplace facilitators like Airbnb and VRBO.
Revenue collections from facilitators may include some hotels and lodges that advertise and rent properties on
these platforms.
6,369,010
2,815,365
6,558,722
2,803,796
6,494,619
2,727,169
$0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000
Hotel and Lodges
Short-Term Rentals
2025 2024 2023
Retail 768,403 875,444 ‐12.23%
Lodging 1,684,889 1,674,626 0.61%
F & B 396,928 405,496 ‐2.11%
Other 19,930 15,571 27.99%
Total 2,870,149 2,971,138 ‐3.40%
Retail 944,174 1,010,242 ‐6.54%
Lodging 2,031,952 2,117,231 ‐4.03%
F & B 778,374 746,147 4.32%
Other 18,646 69,186 ‐73.05%
Total 3,773,146 3,942,807 ‐4.30%
Retail 1,470,628 1,163,484 26.40%
Lodging 2,231,260 2,207,039 1.10%
F & B 10,134 8,054 25.83%
Other 844,742 767,984 9.99%
Total 4,556,764 4,146,560 9.89%
Retail 2,958,591 2,963,943 ‐0.18%
Lodging 3,273,688 3,363,622 ‐2.67%
F & B 3,118,469 2,993,868 4.16%
Other 120,700 137,937 ‐12.50%
Total 9,471,447 9,459,370 0.13%
Retail 6,141,795 6,013,114 2.14%
Lodging 9,221,788 9,362,518 ‐1.50%
F & B 4,303,904 4,153,565 3.62%
Other 1,004,017 990,678 1.35%
Total 20,671,505 20,519,875 0.74%
Retail Apparel 1,402,488 1,361,691 3.00%
Retail Food 750,152 818,349 ‐8.33%
Retail Gallery 32,544 37,471 ‐13.15%
Retail Gift 34,168 25,772 32.58%
Retail Home Occupation 453 979 ‐53.77%
Retail Jewelry 263,175 213,551 23.24%
Retail Liquor 216,115 254,071 ‐14.94%
Retail Other 1,235,293 1,048,295 17.84%
Retail Sport 1,761,922 1,915,996 ‐8.04%
Retail Online Retailer 445,486 336,939 32.22%
Total 6,141,795 6,013,114 2.14%
Cascade Village / East Vail / Sandstone / West Vail
Town of Vail Business Review
Q1 4.5% Sales Tax
2025 Collections 2024 Collections YoY % Change
Total ‐ All Areas
Lionshead
Out of Town
Vail Village
Retail Summary