HomeMy WebLinkAbout01. 251007 TOV Revenue Update1
TOWN OF VAIL
REVENUE UPDATE
October 7, 2025
4.0% General Sales Tax
Upon receipt of all sales tax returns, August 2025 collections are estimated to be
$3,227,564, up 5.8% from 2024 and up 6.2% from the budget.
2025 YTD collections of $31,210,809 are up 2.8% from 2024 and up 3.1% from
the budget. Inflation as measured by the consumer price index was up 2.9% for
the 12-months ending August 2025. The annual budget totals $42.1 million.
0.5% Housing Fund Sales Tax
Upon receipt of all sales tax returns, August 2025 collections of the 0.5% housing
sales tax are estimated to be $390,560, are up 5.8% from 2024 and up 3.5% from
the budget. 2025 YTD collections of $3,788,466 are up 2.8% from 2024 and up
1.2% from the budget. The annual budget for the housing fund sales tax totals $5.2
million.
Real Estate Transfer Tax (RETT)
RETT collections through September 30 total $6,825,440, up 9.2% from 2024. The
number of property sales (excluding time-shares) is tracking down (2.9)% from
2024, while the average collection amount is up 12.1%. The budget for RETT
collections totals $7.7 million for 2025.
Construction Use Tax
Use Tax collections through September 30 total $1,992,839 compared to
$2,276,205 in 2024. The budget totals $2.5 million for 2025.
Lift Tax
Lift tax collections through August 2025 total $5,442,847, up 2.3% or $120,897
from August 2024. The budget totals $6,915,427.
Summer Daily Parking Sales
Daily sales from the parking structures and gated lots from May through
September 25th total approximately $1,134,900. This compares to $476,913 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 $895,000. Staff 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 September 25th total approximately $46,850.
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 $75.6 million is up 5.7% from the amended budget and is up 1.3%
from the prior year.
The majority of the positive variance compared to the budget is due to higher-than-
expected interest earnings, real estate transfer tax collections, and sales tax
collections.
Compared to the prior year, real estate transfer tax, sales tax, and parking fee
collections have increased, while interest earnings and use tax collections have
decreased.
Pass Type
Summer
Season Sales
Premier 10
Employee 117
Employee Plus 14
Eagle County Local 109
Vail Local 214
Total 464
2025 Budget % change % change
2020 2021 2022 2023 2024 Budget Variance from 2024 from Budget
January 4,076,145$ 3,422,209$ 5,217,125$ 5,911,572$ 5,805,199$ 5,791,927$ 5,975,145$ 183,218$ 2.93% 3.16%
February 4,285,633 3,691,850 5,686,585 6,041,108 6,080,349 6,063,693 6,305,852 242,159 3.71% 3.99%
March 2,243,518 4,364,797 5,912,059 6,055,992 6,412,535 6,162,148 6,259,745 97,597 -2.38% 1.58%
April 427,518 1,751,528 2,234,296 2,264,892 1,842,893 2,082,859 2,199,229 116,370 19.34% 5.59%
May 503,828 1,061,516 1,227,974 1,118,011 1,176,629 1,152,860 1,222,279 69,419 3.88% 6.02%
June 1,023,517 2,149,312 2,317,931 2,272,457 2,361,482 2,355,770 2,374,206 18,436 0.54% 0.78%
July 2,084,644 3,491,668 3,507,973 3,412,277 3,643,192 3,629,309 3,646,789 17,480 0.10% 0.48%
August 2,138,838 2,877,550 2,997,389 2,932,111 3,052,213 3,038,643 3,227,564 188,921 5.75% 6.22%
YTD 16,783,641$ 22,810,430$ 29,101,332$ 30,008,420$ 30,374,491$ 30,277,209$ 31,210,809$ 933,600$ 2.75% 3.08%
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$ 31,210,809$ 933,600$ 2.75%3.08%
2025 Budget % change % change
2022 2023 2024 Budget Variance from 2024 from Budget
January 645,487$ 720,906$ 705,167$ 711,525$ 727,361$ 15,836$ 3.15% 2.23%
February 702,730 736,788 741,549 753,337 768,535 15,198 3.64% 2.02%
March 719,717 738,244 783,123 769,644 764,713 (4,931) -2.35% -0.64%
April 269,018 271,930 222,032 249,107 265,261 16,154 19.47% 6.48%
May 146,657 132,333 139,793 143,483 145,959 2,476 4.41% 1.73%
June 280,460 275,113 284,485 291,846 286,506 (5,340) 0.71% -1.83%
July 424,602 412,849 439,142 448,039 439,572 (8,467) 0.10% -1.89%
August 361,165 352,887 369,212 377,205 390,560 13,355 5.78% 3.54%
YTD 3,549,836$ 3,641,050$ 3,684,503$ 3,744,186$ 3,788,466$ 44,280$ 2.82% 1.18%
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$ 3,788,466$ 44,280$ 2.82% 1.18%
Town of Vail Revenue Update
October 7, 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
October 7, 2025
Through August 31
August 4% General Sales Tax Collections By Year
Through August 31
•August collections of $3,227,564 are up 5.8% from prior year and are up 6.2% from the budget.
$2,877,550
$2,997,389
$2,932,111
$3,052,213
$3,227,564
$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
$22,810,430
$29,101,332
$30,008,420
$30,374,491
$31,210,809
$0 $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 $30,000,000
2021
2022
2023
2024
2025
•YTD collections of $31,210,809 are up 2.8% from prior year and are up 3.1% from the budget.
•Inflation as measured by the consumer price index was up 2.9% for the 12-months ending August
2025.
Town of Vail Revenue Update
October 7, 2025
August 0.5% Housing Fund Sales Tax Collections By Year
Real Estate Transfer Tax by Year
YTD Through September 2025
August Collections YTD Collections
•This chart shows YTD collections of 1% RETT, segmented by real property values. 2025
collections are up 9.2% from the prior year.
$8,465,550
$7,815,116
$5,776,481 $6,247,915
$6,825,440
$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
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
•August collections of $390,560 are up 5.8% from prior year and are up 3.5% from the budget.
•2025 YTD collections of $3,788,466 are up 2.8% from 2024 and up 1.2% from the budget. The
annual budget for the housing fund sales tax totals $5.2 million.
$361,165 $352,887 $369,212
$390,560
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
2022 2023 2024 2025
$3,549,836 $3,641,050 $3,684,503 $3,788,466
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
$4,000,000
2022 2023 2024 2025
Town of Vail Revenue Update
October 7, 2025
Construction Use Tax by Year
YTD Through September 2025
YTD Lift Tax Collections
YTD Through August 2025
•Use Tax collections through September 30 total $1,992,839 compared to $2,276,205 from this
time last year. This is an decrease of (12.4)%.
$3,225,928
$1,869,324 $1,990,762
$2,276,205
$1,992,839
$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
•2025 YTD lift tax collections of $5,442,847 are up 2.3% or $120,897 from the same time last
year.
$4,280,736
$5,092,288
$4,990,984
$5,321,950
$5,442,847
$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
August 2025
October 7, 2025
The Vail Business Review breaks down the 4.5% sales tax collected for the month of
August. 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.
August 4.5% sales tax was up 5.6% from the prior year. Retail increased 8.2%, lodging
decreased (0.2)%, food and beverage increased 9.2%, and utilities/other increased
5.4%. Excluding the out-of-town category, sales tax for the month of August was up
5.9% compared to prior year.
Town of Vail sales tax reports, the Vail Business Review, and financial statements are
available on the internet at vail.gov. You may email me to request to have the Vail
Business Review 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
Town of Vail Business Review
August Sales Tax Collections by Year
August 2025 Sales Tax
August 2024
Sales Tax Collections by Business Type
August 2025
1,310,038
Lodging
1,112,619 Food &
Beverage
1,007,839
Utilities &
Other
187,627
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
8.2% 9.2%
5.4%
Retail
2,878,546
3,370,615
3,285,598
3,426,360
3,618,123
$0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $3,500,000 $4,000,000
2021
2022
2023
2024
2025
General Sales Tax
Housing Sales Tax
• August 2025 retail sales increased 8.2%, lodging decreased (0.2)%, food and beverage increased
9.2%, and utilities and other increased 5.4%.
• The figures above reflect 4.5% sales tax.
Retail
1,210,678 Lodging
1,114,574
Food &
Beverage
923,151
Utilities &
Other
177,957
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
(0.2)%
• 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 August 2024 collections were $3,426,360; August 2025 collections were $3,618,123, up from the
prior year 5.6%.
Town of Vail Business Review
August 2024August 2025
Geographic Area Trends by Year
August Sales Tax
Sales Tax by Location
August 2025 Sales Tax
Other Areas
15%
Lionshead
15%
Out of
Town
26%
Vail Village
44%
• Vail Village sales tax increased 10.6%, Lionshead decreased (5.1)%, Other Areas increased 2.9%, and Out
of Town increased 4.8%. Excluding Out of Town collections, all areas were up 5.9%.
• The figures above reflect 4.5% sales tax.
438,129
538,418
376,128
455,582
705,879
866,034
1,358,411
1,510,581
$0 $250,000 $500,000 $750,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000
2021
2022
2023
2024
2025
Vail Village
Out of Town
Lionshead
Other Areas
851,847
1,453,716
444,469
535,566
• This chart shows August 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.
533,349
501,454 881,812
1,509,745
1,669,978
476,068 923,803
548,573
Other Areas
15%
Lionshead
13%
Out of
Town
26%
Vail Village
46%
Accommodation Services Sales Tax by Year
Retail Business 4.5% Sales Tax Detail
August 2025 Sales Tax
Town of Vail Business Review
Apparel
$307,335
Grocery
$205,587
Gallery
$16,737
Gifts
$11,225
Jewelry
$87,407
Retail Liquor
$51,812
Retail Other
$382,069
Sporting Goods
$124,148
Online Retailers
$123,718
Retail Home
Occupation
$0
• August 2025 accommodations services decreased (0.2)% from the prior year. Short-term rentals increased 2.1%
and hotels and lodges decreased (1.1)%.
• 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.
719,497
309,705
794,737
319,836
786,008
326,611
$0 $200,000 $400,000 $600,000 $800,000
Hotel and Lodges
Short-Term Rentals
2025 2024 2023
Retail 196,512 196,916 -0.20%
Lodging 193,776 200,982 -3.59%
F & B 152,980 122,891 24.49%
Other 5,304 12,560 -57.77%
Total 548,573 533,349 2.85%
Retail 77,245 83,679 -7.69%
Lodging 191,980 216,118 -11.17%
F & B 203,342 197,082 3.18%
Other 3,502 4,575 -23.46%
Total 476,068 501,454 -5.06%
Retail 411,911 420,955 -2.15%
Lodging 335,865 307,545 9.21%
F & B 1,900 2,534 -25.01%
Other 174,127 150,779 15.49%
Total 923,803 881,812 4.76%
Retail 624,370 509,128 22.64%
Lodging 390,999 389,929 0.27%
F & B 649,617 600,645 8.15%
Other 4,693 10,044 -53.27%
Total 1,669,678 1,509,745 10.59%
Retail 1,310,038 1,210,678 8.21%
Lodging 1,112,619 1,114,574 -0.18%
F & B 1,007,839 923,151 9.17%
Other 187,627 177,957 5.43%
Total 3,618,123 3,426,360 5.60%
Retail Apparel 307,335 270,795 13.49%
Retail Food 205,587 199,959 2.81%
Retail Gallery 16,737 14,390 16.31%
Retail Gift 11,225 7,216 55.55%
Retail Home Occupation - 42 -100.00%
Retail Jewelry 87,407 52,132 67.66%
Retail Liquor 51,812 51,596 0.42%
Retail Other 382,069 387,979 -1.52%
Retail Sport 124,148 133,699 -7.14%
Retail Online Retailer 123,718 92,869 33.22%
Total 1,310,038 1,210,678 8.21%
Cascade Village / East Vail / Sandstone / West Vail
Town of Vail Business Review
August 4.5% Sales Tax
2025 Collections 2024 Collections YoY % Change
Total - All Areas
Lionshead
Out of Town
Vail Village
Retail Summary