HomeMy WebLinkAbout01. 250805 TOV Revenue Update1
TOWN OF VAIL
REVENUE UPDATE
August 8, 2025
4.0% General Sales Tax
Upon receipt of all sales tax returns, June 2025 collections are estimated to be
$2,351,865, down (0.4)% from 2024 and down (0.2)% from the budget.
2025 YTD collections of $24,313,889 are up 2.7% from 2024 and up 3.0% from
the budget. Inflation as measured by the consumer price index was up 2.7% for
the 12-months ending June 2025. The annual budget totals $42.1 million.
0.5% Housing Fund Sales Tax
Upon receipt of all sales tax returns, June 2025 collections of the 0.5% housing
sales tax are estimated to be $283,945, are down (0.2)% from 2024 and down
(2.7)% from the budget. 2025 YTD collections of $2,955,746 are up 2.8% from
2024 and up 1.3% from the budget. The annual budget for the housing fund sales
tax totals $5.2 million.
Real Estate Transfer Tax (RETT)
RETT collections through July 29 total $4,707,496, down (1.8)% from 2024. The
number of property sales (excluding time-shares) is tracking down (21.5)% from
2024, while the average collection is tracking up 11.2%. The budget for RETT
collections totals $7.7 million for 2025.
Construction Use Tax
Use Tax collections through July 29 total $1,106,265 compared to $1,922,374 in
2024. The budget totals $2.5 million for 2025. The decrease from the prior year
is due to a decline in the number of non-Town funded projects, particularly high-
dollar projects.
Lift Tax
Lift tax collections through June 2025 total $5,119,739, up 2.3% or $115,839 from
June 2024. The budget totals $6,915,427.
Summer Daily Parking Sales
Daily sales from the parking structures and gated lots from May through July 25th
total approximately $729,198. This compares to $141,952 for the same period last
year. In 2025, the Town implemented a daily summer paid parking program while
in 2024, only overnight stays and event parking were charged fees. The 2025
budget for daily summer parking revenue is $2.5 million. Based on current year to
date collections, staff anticipates that actual revenues will fall short of budget by
approximately $800,000. Staff is continuing to analyze the data but believes the
variance is due to a combination of factors, including the total number of
transactions, average duration of stays, and the volume of employee parking
passes sold and used.
2
Summer Parking Pass Sales
Summer parking pass sales through July 25th total approximately $44,975. The
budget for summer parking passes totals $29,774.
Summary
Across all funds and excluding one-time grants and reimbursements, year-to-date
total revenue of $60.8 million is up 5.7% from the amended budget and is up 1.7%
from prior year. The majority of the positive variance compared to the budget is
due to higher-than-expected interest earnings, real estate transfer tax collections,
and sales tax collections. The majority of the positive variance compared to the
prior year is due to increased sales tax collections and the implementation of
summer paid parking.
Pass Type
Summer
Season Sales
Premier 10
Employee 114
Employee Plus 14
Eagle County Local 94
Vail Local 187
Total 419
2025 Budget % change % change
2020 2021 2022 2023 2024 Budget Variance from 2024 from Budget
January 4,076,145$ 3,422,209$ 5,217,125$ 5,911,572$ 5,805,199$ 5,791,927$ 5,974,315$ 182,388$ 2.91% 3.15%
February 4,285,633 3,691,850 5,686,585 6,041,108 6,080,349 6,063,693 6,307,988 244,295 3.74% 4.03%
March 2,243,518 4,364,797 5,912,059 6,055,992 6,412,535 6,162,148 6,261,709 99,561 -2.35% 1.62%
April 427,518 1,751,528 2,234,296 2,264,892 1,842,893 2,082,859 2,197,092 114,233 19.22% 5.48%
May 503,828 1,061,516 1,227,974 1,118,011 1,176,629 1,152,860 1,220,920 68,060 3.76% 5.90%
June 1,023,517 2,149,312 2,317,931 2,272,457 2,361,482 2,355,770 2,351,865 (3,905) -0.41% -0.17%
YTD 12,560,159$ 16,441,212$ 22,595,970$ 23,664,032$ 23,679,086$ 23,609,257$ 24,313,889$ 704,632$ 2.68% 2.98%
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$ 24,313,889$ 704,632$ 2.68%2.98%
2025 Budget % change % change
2022 2023 2024 Budget Variance from 2024 from Budget
January 645,487$ 720,906$ 705,167$ 711,525$ 727,257$ 15,732$ 3.13% 2.21%
February 702,730 736,788 741,549 753,337 768,802 15,465 3.68% 2.05%
March 719,717 738,244 783,123 769,644 764,959 (4,685) -2.32% -0.61%
April 269,018 271,930 222,032 249,107 264,994 15,887 19.35% 6.38%
May 146,657 132,333 139,793 143,483 145,790 2,307 4.29% 1.61%
June 280,460 275,113 284,485 291,846 283,945 (7,901) -0.19% -2.71%
YTD 2,764,069$ 2,875,314$ 2,876,149$ 2,918,942$ 2,955,746$ 36,804$ 2.77% 1.26%
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$ 2,955,746$ 36,804$ 2.77% 1.26%
Town of Vail Revenue Update
August 5, 2025
4.0% GENERAL SALES TAX
2025 Budget Comparison
Actual 4.0% Collections
0.5% HOUSING SALES TAX
2025 Budget Comparison
4.0% Collected
Sales Tax
Actual 0.5% Collections 0.5% Collected
Sales Tax
Town of Vail Revenue Update
YTD 4% General Sales Tax Collections By Year
August 5, 2025
Through June 30
June 4% General Sales Tax Collections By Year
Through June 30
•June collections of $2,351,865 are down (0.4)% from prior year and are down (0.2)% from the budget.
$2,149,312
$2,317,931
$2,272,457
$2,361,482
$2,351,865
$0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000
2021
2022
2023
2024
2025
$16,441,212
$22,595,970
$23,664,032
$23,679,086
$24,313,889
$0 $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000
2021
2022
2023
2024
2025
•YTD collections of $24,313,889 are up 2.7% from prior year and are up 3.0% from the budget.
•Inflation as measured by the consumer price index was up 2.7% for the 12-months ending June
2025.
Town of Vail Revenue Update
August 5, 2025
June 0.5% Housing Fund Sales Tax Collections By Year
Real Estate Transfer Tax by Year
YTD Through July 2025
June Collections YTD Collections
•This chart shows YTD collections of 1% RETT, segmented by real property values. 2025
collections are down (1.8)% from the prior year.
$6,373,698
$5,442,865
$3,307,320
$4,795,504 $4,707,496
$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
Sales Less Than $2.5 Million Sales $2.5 to $5 Million Sales $5 to $10 Million Sales Over $10 Million
•June collections of $283,945 are down (0.2)% from prior year and are down (2.7)% from the budget.
•2025 YTD collections of $2,955,746 are up 2.8% from 2024 and up 1.3% from the budget. The
annual budget for the housing fund sales tax totals $5.2 million.
$280,460 $275,113 $284,485 $283,945
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
2022 2023 2024 2025
$2,764,069 $2,875,314 $2,876,149 $2,955,746
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
2022 2023 2024 2025
Town of Vail Revenue Update
August 5, 2025
Construction Use Tax by Year
YTD Through July 2025
YTD Lift Tax Collections
YTD Through June 2025
•Use Tax collections through July 29 total $1,106,265 compared to $1,922,374 from this time
last year. This is an decrease of (42.5)%.
$2,659,062
$1,227,733
$1,773,592 $1,922,374
$1,106,265
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
2021 2022 2023 2024 2025
•2025 YTD lift tax collections of $5,119,739 are up 2.3% or $115,839 from the same time last
year.
$3,981,861
$4,798,965
$4,716,261
$5,003,900
$5,119,739
$0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000
2021
2022
2023
2024
2025
Vail Business Review
June and Q2 2025
August 5, 2025
The Vail Business Review breaks down the 4.5% sales tax collected for the month of
June and YTD through Q2. 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.
June 4.5% sales tax was down (0.3)% from the prior year. Retail increased 2.8%,
lodging decreased (3.4)%, food and beverage decreased (4.4)%, and utilities/other
increased 13.7%. Excluding the out-of-town category, sales tax for the month of June
was down (4.4)% compared to prior year.
YTD through Q2 4.5% sales tax was up 2.8% from the prior year. Retail increased
5.4%, lodging remained flat, food and beverage increased 4.1%, and utilities/other
increased 3.8%. Excluding the out-of-town category, sales tax for YTD through Q2 was
down (0.4)% compared to 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
June 2024
Sales Tax Collections by Business Type
June 2025
Town of Vail Business Review
June Sales Tax Collections by Year
June 2025 Sales Tax
1,019,111
Lodging
728,800 Food &
Beverage
698,571
Utilities &
Other
188,828
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
2.8% (4.4)%
13.7%
Retail
2,150,760
2,599,483
2,549,136
2,641,939
2,635,309
$0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000
2021
2022
2023
2024
2025
General Sales Tax
Housing Sales Tax
• June 2025 retail sales increased 2.8%, lodging decreased (3.4)%, food and beverage decreased
(4.4)%, and utilities and other increased 13.7%.
• The figures above reflect 4.5% sales tax.
Retail
991,207
Lodging
754,316
Food &
Beverage
730,305
Utilities &
Other
166,111$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
(3.4)%
• 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 June 2024 collections were $2,641,939; June 2025 collections were $2,635,309, down from the
prior year (0.3)%.
June 2025 Sales Tax
Town of Vail Business Review
June 2024June 2025
Geographic Area Trends by Year
June Sales Tax
Sales Tax by Location
Other Areas
16%
Lionshead
15%
Out of
Town
29%
Vail Village
40%
• Vail Village sales tax remained flat, Lionshead decreased (19.4)%, Other Areas decreased (1.9)%, and Out
of Town increased 9.9%. Excluding Out of Town collections, all areas were down (4.4)%.
• The figures above reflect 4.5% sales tax.
322,995
377,120
251,254
326,467
668,247
775,007
908,264
1,120,890
$0 $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000
2021
2022
2023
2024
2025
Vail Village
Out of Town
Lionshead
Other Areas
759,006 1,087,987
299,885
402,258
• This chart shows June 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.
427,272378,906 771,105
1,064,656
1,062,780
305,468 847,722
419,340
Other Areas
16%
Lionshead
12%
Out of
Town
32%
Vail Village
40%
Accommodation Services Sales Tax by Year
Retail Business 4.5% Sales Tax Detail
June 2025 Sales Tax
Town of Vail Business Review
Apparel
$181,518
Grocery
$160,384
Gallery
$3,251
Gifts
$8,930
Jewelry
$57,252
Retail Liquor
$42,442
Retail Other
$376,579
Sporting Goods
$81,170
Online Retailers
$104,994
Retail Home
Occupation
$2,590
• June 2025 accommodations services decreased (3.4)% from the prior year. Short-term rentals increased 4.1%
and hotels and lodges decreased (6.2)%.
• 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.
534,704
225,906
546,469
207,846
512,431
216,369
$0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000
Hotel and Lodges
Short-Term Rentals
2025 2024 2023
Retail 164,456 163,484 0.59%
Lodging 123,333 126,359 -2.39%
F & B 127,208 131,447 -3.22%
Other 4,342 5,982 -27.42%
Total 419,340 427,272 -1.86%
Retail 53,859 56,316 -4.36%
Lodging 132,104 162,544 -18.73%
F & B 117,921 155,790 -24.31%
Other 1,583 4,256 -62.80%
Total 305,468 378,906 -19.38%
Retail 429,013 401,998 6.72%
Lodging 239,561 221,304 8.25%
F & B 1,093 615 77.77%
Other 178,055 147,189 20.97%
Total 847,722 771,105 9.94%
Retail 371,782 369,409 0.64%
Lodging 233,801 244,108 -4.22%
F & B 452,349 442,454 2.24%
Other 4,847 8,685 -44.18%
Total 1,062,780 1,064,656 -0.18%
Retail 1,019,111 991,207 2.82%
Lodging 728,800 754,316 -3.38%
F & B 698,571 730,305 -4.35%
Other 188,828 166,111 13.68%
Total 2,635,309 2,641,939 -0.25%
Retail Apparel 181,518 200,430 -9.44%
Retail Food 160,384 173,594 -7.61%
Retail Gallery 3,251 6,679 -51.33%
Retail Gift 8,930 4,700 90.01%
Retail Home Occupation 2,590 197 1213.67%
Retail Jewelry 57,252 30,732 86.30%
Retail Liquor 42,442 43,381 -2.16%
Retail Other 376,579 355,816 5.84%
Retail Sport 81,170 79,035 2.70%
Retail Online Retailer 104,994 96,643 8.64%
Total 1,019,111 991,207 2.82%
Cascade Village / East Vail / Sandstone / West Vail
Town of Vail Business Review
June 4.5% Sales Tax
2025 Collections 2024 Collections YoY % Change
Total - All Areas
Lionshead
Out of Town
Vail Village
Retail Summary
Jan - Jun 2024
Sales Tax Collections by Business Type
Jan - Jun 2025
Town of Vail Business Review
Jan - Jun Sales Tax Collections by Year
YTD through Q2 2025 Sales Tax
8,874,763
Lodging
10,913,221
Food &
Beverage
5,847,833
Utilities &
Other
1,630,942
$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
$11,000,000
5.4%4.1%3.8%
Retail
16,467,803
25,372,403
26,518,203
26,521,755
27,266,759
$0 $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000
2021
2022
2023
2024
2025
General Sales Tax
Housing Sales Tax
• YTD through Q2 2025 retail sales increased 5.4%, lodging remained flat, food and beverage
increased 4.1%, and utilities and other increased 3.8%.
• The figures above reflect 4.5% sales tax.
Retail
8,422,237
Lodging
10,908,353
Food &
Beverage
5,619,630
Utilities &
Other
1,571,535
$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
$11,000,000
0.0%
• 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 through Q2 2024 collections were $26,521,755; though Q2 2025 collections were $27,266,759, up
from the prior year 2.8%.
YTD through Q2 2025 Sales Tax
Town of Vail Business Review
Jan - Jun 2024Jan - Jun 2025
Geographic Area Trends by Year
Jan - Jun Sales Tax
Sales Tax by Location
Other Areas
15%
Lionshead
18%
Out of
Town
23%
Vail Village
44%
• Vail Village sales tax increased 2.4%, Lionshead decreased (5.4)%, Other Areas decreased (2.5)%, and
Out of Town increased 13.3%. Excluding Out of Town collections, all areas were down (0.4)%.
• The figures above reflect 4.5% sales tax.
2,402,719
3,689,042
2,663,027
4,369,485
4,467,934
6,249,024
6,934,123
11,064,852
$0 $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000
2021
2022
2023
2024
2025
Vail Village
Out of Town
Lionshead
Other Areas
6,583,809 11,620,378
4,586,617
3,727,399
• This chart shows YTD through Q2 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.
3,937,770
4,749,348 6,192,225
11,642,412
11,921,034
4,491,544 7,016,686
3,837,495
Other Areas
14%
Lionshead
16%
Out of
Town
26%
Vail Village
44%
Accommodation Services Sales Tax by Year
Retail Business 4.5% Sales Tax Detail
YTD through Q2 2025 Sales Tax
Town of Vail Business Review
Apparel
$1,840,013
Grocery
$1,149,154
Gallery
$52,422
Gifts
$51,054
Jewelry
$387,478
Retail Liquor
$316,635
Retail Other
$2,319,027
Sporting Goods
$2,024,516
Online Retailers
$731,035
Retail Home
Occupation
$3,427
• YTD through Q2 2025 accommodations services remained flat from the prior year. Short-term rentals increased
1.7% and hotels and lodges decreased (0.7)%.
• 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.
7,493,949
3,394,944
7,647,286
3,261,067
7,597,107
3,316,115
$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
Hotel and Lodges
Short-Term Rentals
2025 2024 2023
Retail 1,188,879 1,295,377 -8.22%
Lodging 1,951,314 1,933,139 0.94%
F & B 665,935 676,468 -1.56%
Other 31,367 32,786 -4.33%
Total 3,837,495 3,937,770 -2.55%
Retail 1,096,778 1,150,476 -4.67%
Lodging 2,330,418 2,461,294 -5.32%
F & B 1,036,501 1,054,482 -1.71%
Other 27,848 83,096 -66.49%
Total 4,491,544 4,749,348 -5.43%
Retail 2,710,728 2,191,704 23.68%
Lodging 2,851,801 2,695,579 5.80%
F & B 12,369 9,453 30.84%
Other 1,441,788 1,295,488 11.29%
Total 7,016,686 6,192,225 13.31%
Retail 3,878,379 3,784,679 2.48%
Lodging 3,779,688 3,818,340 -1.01%
F & B 4,133,028 3,879,228 6.54%
Other 129,939 160,165 -18.87%
Total 11,921,034 11,642,412 2.39%
Retail 8,874,763 8,422,237 5.37%
Lodging 10,913,221 10,908,353 0.04%
F & B 5,847,833 5,619,630 4.06%
Other 1,630,942 1,571,535 3.78%
Total 27,266,759 26,521,755 2.81%
Retail Apparel 1,840,013 1,772,978 3.78%
Retail Food 1,149,154 1,220,990 -5.88%
Retail Gallery 52,422 50,836 3.12%
Retail Gift 51,054 34,297 48.86%
Retail Home Occupation 3,427 1,571 118.19%
Retail Jewelry 387,478 288,203 34.45%
Retail Liquor 316,635 355,841 -11.02%
Retail Other 2,319,027 1,938,114 19.65%
Retail Sport 2,024,516 2,173,875 -6.87%
Retail Online Retailer 731,035 585,532 24.85%
Total 8,874,763 8,422,237 5.37%
Cascade Village / East Vail / Sandstone / West Vail
Town of Vail Business Review
Jan - Jun 4.5% Sales Tax
2025 Collections 2024 Collections YoY % Change
Total - All Areas
Lionshead
Out of Town
Vail Village
Retail Summary