HomeMy WebLinkAbout02. 260106 Town of Vail Revenue Update1
TOWN OF VAIL
REVENUE U PDATE
January 6, 202 5
4.0% General Sales Tax
Upon receipt of all sales tax returns, November 2025 collections are estimated to
be $1,787,285, down (3.1)% from 2024 and down (3.1)% from the budget.
2025 YTD collections of $37,376,756 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 November 2025. The annual budget totals $42.1 million.
0.5% Housing Fund Sales Tax
Upon receipt of all sales tax returns, November 2025 collections of the 0.5%
housing sales tax are estimated to be $215,550, down (3.2)% from 2024 and down
(5.7)% from the budget. 2025 YTD collections of $4,533,302 are up 2.8% from
2024 and up 1% from the budget. The annual budget for the housing fund sales
tax totals $5.2 million.
Real Estate Transfer Tax (RETT)
RETT collections through December 30 total $9,318,891, down (0.3)% from 2024.
The number of property sales (excluding time-shares) is tracking down (3.7)% from
2024, while the average collection amount is up 3.7%. The proposed amended
budget for RETT collections totals $8.9 million for 2025.
Construction Use Tax
Use Tax collections through December 30 total $2,384,950 compared to
$3,073,318 in 2024. The budget totals $2.5 million for 2025.
Lift Tax
Lift tax collections through November 2025 total $5,678,003, up 2.2% or $126,848
from November 2024. The budget totals $6,915,427.
Daily Parking Sales
Daily sales from the parking structures from November through December 29th
total approximately $1,382,100, down (5.3)% from time last year. This amount
includes daily fees charged to the parking pass holders. The number of daily
parking transactions is down 14.2% compared to the prior year, however the
majority of that reduction is being offset by daily parking fee increases.
Winter Parking Pass Sales
Winter parking pass sales for the 2025 – 2026 season through December 29th total
approximately $1,158,170, a decrease of $(45,974) or (3.8)% from the prior
season. Adjustments to the pass pricing structure were approved for the 2025-
2026 season. If prices had not been increased (and the same number of passes
were sold), collections would have been down approximately ($107,756), or (8.9)%
from the prior season due the decrease in employee plus passes sold The tot al
budget for Winter parking pass sales is $1,240,000.
2
The number of passes sold by type is included in the following chart :
Summary
Across all funds and excluding one-time grants and reimbursements, year-to-date
total revenue of $93.5 million is up 1.5% from the amended budget and is down
(2.3)% from the prior year. Real estate transfer tax collections, interest earnings,
use tax collections, and sales tax collections are pacing above budget, while
parking fee collections are below budget. Compared to the prior year, sales tax
and parking fee collections have increased, while interest earnings, use tax
collections, and parking fees have decreased.
Pass Type
2025 - 2026
Pass Sales
2024 – 2025
Pass Sales
Increase /
(Decrease)
from Prior
Year
Premier 20 20 -
Vail Village Business Premier 70 69 1
Lionshead Business Premier 4 7 (3)
Employee 475 471 4
Employee Plus 265 329 (64)
Local 3,595 3,247 349
Total 4,429 4,143 287
2025 Budget % change % change
2020 2021 2022 2023 2024 Budget Variance from 2024 from Budget
January 4,076,145$ 3,422,209$ 5,217,125$ 5,911,572$ 5,805,199$ 5,791,927$ 5,965,178$ 173,251$ 2.76% 2.99%
February 4,285,633 3,691,850 5,686,585 6,041,108 6,080,349 6,063,693 6,292,923 229,230 3.50% 3.78%
March 2,243,518 4,364,797 5,912,059 6,055,992 6,412,535 6,162,148 6,244,416 82,268 -2.62% 1.34%
April 427,518 1,751,528 2,234,296 2,264,892 1,842,893 2,082,859 2,188,794 105,935 18.77% 5.09%
May 503,828 1,061,516 1,227,974 1,118,011 1,176,629 1,152,860 1,204,497 51,637 2.37% 4.48%
June 1,023,517 2,149,312 2,317,931 2,272,457 2,361,482 2,355,770 2,350,166 (5,604) -0.48% -0.24%
July 2,084,644 3,491,668 3,507,973 3,412,277 3,643,192 3,629,309 3,718,933 89,624 2.08% 2.47%
August 2,138,838 2,877,550 2,997,389 2,932,111 3,052,213 3,038,643 3,253,722 215,079 6.60% 7.08%
September 1,767,393 2,359,528 2,441,331 2,508,064 2,415,397 2,414,174 2,526,039 111,865 4.58% 4.63%
October 1,371,727 1,734,964 1,729,558 1,773,358 1,753,419 1,752,419 1,844,802 92,383 5.21% 5.27%
November 1,425,461 1,880,397 1,902,643 1,901,141 1,844,461 1,843,961 1,787,285 (56,676) -3.10% -3.07%
YTD 21,348,222$ 28,785,318$ 35,174,864$ 36,190,983$ 36,387,768$ 36,287,763$ 37,376,756$ 1,088,993$ 2.72% 3.00%
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$ 37,376,756$ 1,088,993$ 2.72%3.00%
2025 Budget % change % change
2022 2023 2024 Budget Variance from 2024 from Budget
January 645,487$ 720,906$ 705,167$ 711,525$ 726,115$ 14,590$ 2.97% 2.05%
February 702,730 736,788 741,549 753,337 766,919 13,582 3.42% 1.80%
March 719,717 738,244 783,123 769,644 762,797 (6,847) -2.60% -0.89%
April 269,018 271,930 222,032 249,107 263,957 14,850 18.88% 5.96%
May 146,657 132,333 139,793 143,483 143,737 254 2.82% 0.18%
June 280,460 275,113 284,485 291,846 283,500 (8,346) -0.35% -2.86%
July 424,602 412,849 439,142 448,039 448,582 543 2.15% 0.12%
August 361,165 352,887 369,212 377,205 393,814 16,609 6.66% 4.40%
September 294,861 304,068 293,066 299,772 306,460 6,688 4.57% 2.23%
October 207,397 213,568 210,364 217,051 221,872 4,821 5.47% 2.22%
November 230,383 229,092 222,639 228,495 215,550 (12,945) -3.18% -5.67%
YTD 4,282,477$ 4,387,778$ 4,410,572$ 4,489,504$ 4,533,302$ 43,798$ 2.78% 0.98%
December 671,982 703,050 699,750 712,030 -
Total 4,954,459$ 5,090,828$ 5,110,322$ 5,201,534$ 4,533,302$ 43,798$ 2.78% 0.98%
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
January 6, 2026
4.0% GENERAL SALES TAX
2025 Budget Comparison
Actual 4.0% Collections
Through November 30
November 4% General Sales Tax Collections By Year
Through November 30
Town of Vail Revenue Update
YTD 4% General Sales Tax Collections By Year
January 6, 2026
•November collections of $1,787,285 are down (3.1)% from prior year and are down (3.1)% from the
budget.
$1,880,397
$1,902,643
$1,901,141
$1,844,461
$1,787,285
$0 $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 $1,600,000 $1,800,000 $2,000,000
2021
2022
2023
2024
2025
$28,785,318
$35,174,864
$36,190,983
$36,387,768
$37,376,756
$0 $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 $30,000,000 $35,000,000
2021
2022
2023
2024
2025
•YTD collections of $37,376,756 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 November
November Collections YTD Collections
Town of Vail Revenue Update
January 6, 2026
November 0.5% Housing Fund Sales Tax Collections By Year
Real Estate Transfer Tax by Year
YTD Through December 2025
•This chart shows YTD collections of 1% RETT, segmented by real property values. 2025
collections are down (0.3)% from the prior year.
$13,371,555
$9,603,456
$7,994,852
$9,349,910 $9,318,891
$0
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
$12,000,000
$14,000,000
$16,000,000
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
•November collections of $215,550 are down (3.2)% from prior year and are down (5.7)% from the
budget.
•2025 YTD collections of $4,533,302 are up 2.8% from 2024 and up 1.0% from the budget. The
annual budget for the housing fund sales tax totals $5.2 million.
$230,383 $229,092 $222,639 $215,550
$0
$50,000
$100,000
$150,000
$200,000
$250,000
2022 2023 2024 2025
$4,282,477 $4,387,778 $4,410,572 $4,533,302
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
$4,000,000
$4,500,000
$5,000,000
2022 2023 2024 2025
Town of Vail Revenue Update
January 6, 2026
Construction Use Tax by Year
YTD Through December 2025
YTD Lift Tax Collections
YTD Through November 2025
•Use Tax collections through December 30 total $2,384,950 compared to $3,073,318 from this
time last year. This is a decrease of (22.4)%.
$3,682,745
$2,189,830
$2,532,881
$3,073,318
$2,384,950
$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
•2025 YTD lift tax collections of $5,678,003 are up 2.2% or $124,848 from the same time last
year.
$4,587,835
$5,424,419
$5,295,602
$5,553,154
$5,678,003
$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
November 2025
January 6, 2026
The Vail Business Review breaks down the 4.5% sales tax collected for the month of
November. 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.
November 4.5% sales tax was down (3.0)% from the prior year. Retail decreased
(6.0)%, lodging decreased (0.6)%, food and beverage increased 0.6%, and
utilities/other decreased (3.0)%. Excluding the out-of-town category, sales tax for the
month of November was down (3.7)% 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
November Sales Tax Collections by Year
November 2025 Sales Tax
November 2024
Sales Tax Collections by Business Type
November 2025
847,578
Lodging
599,860
Food &
Beverage
382,113
Utilities &
Other
169,899
$0
$150,000
$300,000
$450,000
$600,000
$750,000
$900,000
(6.0)% 0.6%
(3.0)%
Retail
1,884,907
2,131,909
2,133,850
2,060,151
1,999,450
$0 $500,000 $1,000,000 $1,500,000 $2,000,000
2021
2022
2023
2024
2025
General Sales Tax
Housing Sales Tax
• November 2025 retail sales decreased (6.0)%, lodging decreased (0.6)%, food and beverage
increased 0.6%, and utilities and other decreased (3.0)%.
• The figures above reflect 4.5% sales tax.
Retail
901,759
Lodging
603,469
Food &
Beverage
379,677
Utilities &
Other
175,247
$0
$150,000
$300,000
$450,000
$600,000
$750,000
$900,000
(0.6)%
• 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 November 2024 collections were $2,060,151; November 2025 collections were $1,999,450, down
from the prior year (3.0)%.
Town of Vail Business Review
November 2024November 2025
Geographic Area Trends by Year
November Sales Tax
Sales Tax by Location
November 2025 Sales Tax
Other Areas
13%
Lionshead
10%
Out of
Town
44%
Vail Village
33%
• Vail Village sales tax increased 2.7%, Lionshead decreased (17.0)%, Other Areas decreased (9.1)%, and
Out of Town decreased (2.1)%. Excluding Out of Town collections, all areas were down (3.7)%.
• The figures above reflect 4.5% sales tax.
235,269
285,087
212,252
231,525
770,297
921,438
667,089
693,858
$0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 $900,000
2021
2022
2023
2024
2025
Vail Village
Out of Town
Lionshead
Other Areas
922,280
735,433
207,677
268,460
• This chart shows November 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.
268,166
210,121 913,099
668,766
686,947
174,341 894,273
243,889
Other Areas
12%
Lionshead
9%
Out of
Town
45%
Vail Village
34%
Retail Business 4.5% Sales Tax Detail
November 2025 Sales Tax
Town of Vail Business Review
Accommodation Services Sales Tax by Year
Apparel
$133,099
Grocery
$105,720
Gallery
$7,387
Gifts
$4,323
Jewelry
$42,801
Retail Liquor
$28,731Retail Other
$312,161
Sporting Goods
$100,064
Online Retailers
$113,142
Retail Home
Occupation
$151
• November 2025 accommodations services decreased (0.6)% from the prior year. Short-term rentals increased
6.7% and hotels and lodges decreased (6.6)%.
• 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.
318,085
252,708
332,159
271,310
310,378
289,483
$0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000
Hotel and Lodges
Short-Term Rentals
2025 2024 2023
Retail 124,631 135,366 (10,735) -7.93%
Lodging 63,332 70,297 (6,965) -9.91%
F & B 53,149 59,899 (6,750) -11.27%
Other 2,777 2,604 173 6.65%
Total 243,889 268,166 (24,276) -9.05%
Retail 58,683 70,070 (11,387) -16.25%
Lodging 68,068 81,400 (13,331) -16.38%
F & B 47,133 56,806 (9,673) -17.03%
Other 458 1,845 (1,388) -75.21%
Total 174,341 210,121 (35,779) -17.03%
Retail 396,503 433,868 (37,365) -8.61%
Lodging 335,274 311,569 23,705 7.61%
F & B 335 484 (149) -30.77%
Other 162,161 167,178 (5,017) -3.00%
Total 894,273 913,099 (18,826) -2.06%
Retail 267,761 262,454 5,307 2.02%
Lodging 133,186 140,204 (7,018) -5.01%
F & B 281,496 262,488 19,008 7.24%
Other 4,504 3,621 883 24.40%
Total 686,947 668,766 18,181 2.72%
Retail 847,578 901,759 (54,181) -6.01%
Lodging 599,860 603,469 (3,609) -0.60%
F & B 382,113 379,677 2,436 0.64%
Other 169,899 175,247 (5,348) -3.05%
Total 1,999,450 2,060,151 (60,701) -2.95%
Retail Apparel 133,099 142,876 (9,777) -6.84%
Retail Food 105,720 113,334 (7,614) -6.72%
Retail Gallery 7,387 10,792 (3,405) -31.55%
Retail Gift 4,323 3,154 1,169 37.05%
Retail Home Occupation 151 206 (55) -26.92%
Retail Jewelry 42,801 14,240 28,561 200.57%
Retail Liquor 28,731 31,220 (2,489) -7.97%
Retail Other 312,161 354,837 (42,676) -12.03%
Retail Sport 100,064 129,012 (28,948) -22.44%
Retail Online Retailer 113,142 102,088 11,053 10.83%
Total 847,578 901,759 (54,181) -6.01%
Total - All Areas
Lionshead
Out of Town
Vail Village
Retail Summary
Cascade Village / East Vail / Sandstone / West Vail
Town of Vail Business Review
November 4.5% Sales Tax
2025 Collections 2024 Collections YoY % ChangeYoY $ Change