HomeMy WebLinkAbout01. 260505 Town of Vail Revenue Update1
TOWN OF VAIL
REVENUE UPDATE
May 5, 2026
4.0% General Sales Tax
Upon receipt of all sales tax returns, March 2026 collections are estimated to be
$5,606,894, down (10.3)% from 2025 and are up 5.5% from the amended
budget.
2026 YTD collections of $17,028,979 are down (8.3)% from 2025 and up 2.5%
from the amended budget. Inflation as measured by the consumer price index
was up 3.3% for the 12-months ending March 2026. The amended budget totals
$39.7 million for 2026.
March sales tax collections were impacted by limited snowfall, but particularly in
the lodging category, which declined (12.4)% compared to March 2025. Sales tax
collections from short-term rentals decreased (9.9)% while collections from hotels
and lodges decreased (13.2)%. Retail was down by (9.9)% while food and
beverage decreased (6.5)%.
0.5% Housing Fund Sales Tax
Upon receipt of all sales tax returns, March 2026 collections of the 0.5% housing
sales tax are estimated to be $685,017, down (10.3)% from 2025 and up 5.6%
from the amended budget.
2026 YTD collections of $2,079,431 are down (8.1)% from 2025 and up 2.6% from
the amended budget The amended budget for the housing fund sales tax totals
$4.8 million for 2026.
Real Estate Transfer Tax (RETT)
RETT collections through April 28 total $2,341,451, down (21.2)% from this time
in 2025. This decrease is largely due to a small number of large-dollar sales that
occurred in early 2025. The number of property sales (excluding time-shares) were
down (10.5)% from 2025.
The annual budget for RETT collections totals $7.8 million for 2026 (a 20.4%
decrease compared to 2025 actuals).
Lift Tax
Lift tax collections for March 2026 total $1,205,914, down (11.9)% or $(163,610)
from 2025. Year-to-date lift tax collections of $4,166,447 are down (9.7)% from this
time in 2025.
Construction Use Tax
Use Tax collections through April 28 total $355,142 compared to $595,779 at this
time in 2025. The budget totals $2.5 million for 2026.
2
Daily Parking Sales
Daily sales from the parking structures from November through April total
approximately $6,194,543, down (15.4)% from the prior season. This amount
includes daily fees charged to the parking pass holders.
Total parking transactions were down approximately (13.6)% compared to the prior
winter season.
Winter Parking Pass Sales
Winter parking pass sales for the 2025/2026 winter season total approximately
$1,197,750, a decrease of $(35,994) or (2.8)% 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 ($99,492), or (8.3)% from the prior season
mainly due the decrease in the number of employee plus passes sold. 2025/2026
season pass sales indicate that more employees opted for the local pass option
than prior years. The total budget for winter parking pass sales is $1,240,000.
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 $39.9 million is up 2.0% from the amended budget and is down
(7.9)% from the prior year.
The majority of the positive variance compared to the amended budget is due to
higher-than-expected real estate transfer tax collections and sales tax collections.
The town amended the budget in early April to adjust for impacts in visitation from
the low snow fall. Compared to the prior year, sales tax, lift tax, parking, and real
estate transfer tax collections have decreased.
Pass Type
2025/2026
Pass Sales
2024/2025
Pass Sales
Increase /
(Decrease)
from Prior
Year
Premier 21 21 -
Vail Village Business Premier 70 69 1
Lionshead Business Premier 4 7 (3)
Employee 495 488 7
Employee Plus 266 330 (64)
Local 4,161 3,635 527
Total 5,017 4,550 468
Preliminary Amended 2026 Budget % change % change
2021 2022 2023 2024 2025 Budget Variance from 2025 from Budget
January 3,422,209$ 5,217,125$ 5,911,572$ 5,805,199$ 5,988,253$ 5,610,786$ 5,678,686$ 67,900$ -5.17%1.21%
February 3,691,850 5,686,585 6,041,108 6,080,349 6,325,963 5,684,325 5,743,400 59,075 -9.21%1.04%
March 4,364,797 5,912,059 6,055,992 6,412,535 6,247,759 5,315,067 5,606,894 291,827 -10.26%5.49%
YTD 11,478,857$ 16,815,769$ 18,008,672$ 18,298,082$ 18,561,975$ 16,610,178$ 17,028,979$ 418,802$ -8.26%2.52%
April 1,751,528 2,234,296 2,264,892 1,842,893 2,193,928 1,180,000 -
May 1,061,516 1,227,974 1,118,011 1,176,629 1,220,969 1,180,000 -
June 2,149,312 2,317,931 2,272,457 2,361,482 2,371,399 2,289,072 -
July 3,491,668 3,507,973 3,412,277 3,643,192 3,744,809 3,628,942 -
August 2,877,550 2,997,389 2,932,111 3,052,213 3,270,007 3,144,067 -
September 2,359,528 2,441,331 2,508,064 2,415,397 2,539,164 2,447,619 -
October 1,734,964 1,729,558 1,773,358 1,753,419 1,906,445 1,757,502 -
November 1,880,397 1,902,643 1,901,141 1,844,461 1,878,308 1,807,572 -
December 5,749,365 5,602,018 5,811,950 5,789,893 5,762,201 5,654,095 -
Total 34,534,683$ 40,776,882$ 42,002,933$ 42,177,661$ 43,449,206$ 39,699,047$ 17,028,979$ 418,802$ -8.26%2.52%
Preliminary Amended 2026 Budget % change % change
2022 2023 2024 2025 Budget Variance from 2025 from Budget
January 645,487$ 720,906$ 705,167$ 728,999$ 685,810$ 694,252$ 8,442$ -4.77%1.23%
February 702,730 736,788 741,549 771,048 692,823 700,161 7,338 -9.19%1.06%
March 719,717 738,244 783,123 763,215 648,733 685,017 36,284 -10.25%5.59%
YTD 2,067,934$ 2,195,938$ 2,229,839$ 2,263,262$ 2,027,366$ 2,079,431$ 52,065$ -8.12%2.57%
April 269,018 271,930 222,032 264,598 142,400 -
May 146,657 132,333 139,793 145,795 142,649 -
June 280,460 275,113 284,485 286,154 278,231 -
July 424,602 412,849 439,142 451,816 440,885 -
August 361,165 352,887 369,212 395,849 382,022 -
September 294,861 304,068 293,066 308,100 298,442 -
October 207,397 213,568 210,364 229,552 221,322 -
November 230,383 229,092 222,639 226,892 218,186 -
December 671,982 703,050 699,750 694,515 683,338 -
Total 4,954,459$ 5,090,828$ 5,110,322$ 5,266,534$ 4,834,841$ 2,079,431$ 52,065$ -8.12%2.57%
0.5% HOUSING SALES TAX
Town of Vail Revenue Update
May 5, 2026
4.0% GENERAL SALES TAX2026 Budget Comparison
Actual 4.0% Collections 4.0% Collected
Sales Tax
2026 Budget Comparison
0.5% Collected
Sales Tax
Actual 0.5% Collections
Town of Vail Revenue Update
YTD 4% General Sales Tax Collections By Year
May 5, 2026
Through March 31
March 4% General Sales Tax Collections By Year
Through March 31
•March collections of $5,606,894 are down (8.3)% from prior year and are up 2.5% from the amended
budget.
$5,912,059
$6,055,992
$6,412,535
$6,247,759
$5,606,894
$0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000
2022
2023
2024
2025
2026
$16,815,769
$18,008,672
$18,298,082
$18,561,975
$17,028,979
$0 $5,000,000 $10,000,000 $15,000,000 $20,000,000
2022
2023
2024
2025
2026
•YTD collections of $17,028,979 are down (8.3)% from prior year and are up 2.5% from the
amended budget.
•Inflation as measured by the consumer price index was up 3.3% for the 12-months ending March
Town of Vail Revenue Update
May 5, 2026
March 0.5% Housing Fund Sales Tax Collections By Year
Real Estate Transfer Tax by Year
YTD Through April 28
March Collections YTD Collections
•This chart shows YTD collections of 1% RETT, segmented by real property values. 2026
collections are down (21.2)% from the prior year.
$2,816,126
$1,897,504
$3,119,761 $2,970,489
$2,341,451
$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 2026
Sales Less Than $2.5 Million Sales $2.5 to $5 Million Sales $5 to $10 Million Sales Over $10 Million
•March collections of $685,017 are down (10.3)% from prior year and are up 5.6% from the
amended budget.
•2025 YTD collections of $2,079,431 are down (8.1)% from 2025 and are up 2.6% from the
amended budget.
$738,244 $783,123 $763,215
$685,017
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
2023 2024 2025 2026
$2,195,938 $2,229,839 $2,263,262
$2,079,431
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
2023 2024 2025 2026
YTD Through April 2026
Construction Use Tax by Year
Town of Vail Revenue Update
May 5, 2026
YTD Lift Tax Collections
YTD Through March 2026
•2026 YTD lift tax collections of $4,166,447 are down (9.7)% or $(447,915) from the same time
last year.
$4,285,902
$4,265,597
$4,585,496
$4,614,362
$4,166,447
$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
2026
•Use Tax collections through April 28 total $355,142 compared to $595,779 from this time last
year. This is an decrease of (40.4)%.
$599,518
$695,078
$495,237
$595,779
$355,142
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
2022 2023 2024 2025 2026
Vail Business Review
March and Q1 2026
May 5, 2026
The Vail Business Review breaks down the 4.5% sales tax collected for the month of
March and the first quarter. 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 (10.3)% from the prior year. Retail decreased (9.9)%,
lodging decreased (12.4)%, food and beverage decreased (6.5)%, and utilities/other
decreased (9.1)%. Excluding the out-of-town category, sales tax for the month of March
was down (10.1)% compared to prior year.
Q1 4.5% sales tax was down (8.2)% from the prior year. Retail decreased (5.6)%,
lodging decreased (12.2)%, food and beverage decreased (4.2)%, and utilities/other
decreased (4.0)%. Excluding the out-of-town category, sales tax for the first quarter was
down (9.0)% 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
March Sales Tax Collections by Year
March 2026 Sales Tax
March 2025
Sales Tax Collections by Business Type
March 2026
1,983,508
Lodging
2,636,879
Food &
Beverage
1,372,753
Utilities &
Other
298,772
$0
$400,000
$800,000
$1,200,000
$1,600,000
$2,000,000
$2,400,000
$2,800,000
$3,200,000
(9.9)% (6.5)%
(9.1)%
Retail
6,636,387
6,794,573
7,189,297
7,010,875
6,291,913
$0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000
2022
2023
2024
2025
2026
General Sales Tax
Housing Sales Tax
• March 2026 retail sales decreased (9.9)%, lodging decreased (12.4)%, food and beverage
decreased (6.5)%, and utilities and other decreased (9.1)%.
• The figures above reflect 4.5% sales tax.
Retail
2,202,222
Lodging
3,011,607
Food &
Beverage
1,468,263
Utilities &
Other
328,783
$0
$400,000
$800,000
$1,200,000
$1,600,000
$2,000,000
$2,400,000
$2,800,000
$3,200,000
(12.4)%
• 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. The 0.5% increase to sales tax is depicted in light blue. General 4.0% sales tax
collections are shown in darker blue.
• Total March 2025 collections were $7,010.875; March 2026 collections were $6,291,913, down from the
prior year (10.3)%.
Town of Vail Business Review
March 2025March 2026
Geographic Area Trends by Year
March Sales Tax
Sales Tax by Location
March 2026 Sales Tax
975,654
966,343
1,001,311
915,133
810,907
1,232,458
1,263,980
1,347,293
1,214,465
1,028,589
1,348,539
1,479,405
1,365,214
1,601,526
1,429,296
3,079,736
3,084,845
3,475,480
3,279,750
3,023,120
Other Areas
13%
Lionshead
17%
Out of
Town
23%
Vail Village
47%
• Vail Village sales tax decreased (7.8)%, Lionshead decreased (15.3)%, Other Areas decreased (11.4)%,
and Out of Town decreased (10.8)%. Excluding Out of Town collections, all areas were down (10.1)%.
• The figures above reflect 4.5% sales tax.
$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
2026
Vail Village
Out of Town
Lionshead
Other Areas
• This chart shows March sales tax collections by geographic area over time.
• The 0.5% increase for housing sales tax is depicted in lighter shades. General 4.0% sales tax
collections are shown in darker shades.
Other Areas
13%
Lionshead
16%
Out of
Town
23%
Vail Village
48%
Accommodation Services Sales Tax by Year
Retail Business 4.5% Sales Tax Detail
March 2026 Sales Tax
Town of Vail Business Review
Apparel
$495,854
Grocery
$255,779
Gallery
$2,465
Gifts
$14,163
Jewelry
$88,916Retail Liquor
$68,031
Retail Other
$426,502
Sporting Goods
$492,155
Online Retailers
$139,344
Retail Home
Occupation
$300
• March 2026 accommodations services decreased (12.4)% from the prior year. Short-term rentals decreased
(13.0)% and hotels and lodges decreased (12.2)%.
• 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.
2,263,279
976,969
2,067,044
944,563
1,814,677
822,202
$0 $500,000 $1,000,000 $1,500,000 $2,000,000
Hotel and Lodges
Short-Term Rentals
2026 2025 2024
Retail 219,254 250,983 (31,729) -12.6%
Lodging 448,883 530,614 (81,730) -15.4%
F & B 135,772 126,048 9,724 7.7%
Other 6,998 7,488 (490) -6.5%
Total 810,907 915,133 (104,226) -11.4%
Retail 279,515 320,992 (41,477) -12.9%
Lodging 541,031 642,236 (101,205) -15.8%
F & B 204,824 247,465 (42,641) -17.2%
Other 3,219 3,773 (553) -14.7%
Total 1,028,589 1,214,465 (185,876) -15.3%
Retail 476,930 560,152 (83,222) -14.9%
Lodging 693,608 760,397 (66,789) -8.8%
F & B 1,360 2,948 (1,587) -53.9%
Other 257,397 278,030 (20,632) -7.4%
Total 1,429,296 1,601,526 (172,230) -10.8%
Retail 1,007,808 1,070,094 (62,285) -5.8%
Lodging 953,356 1,078,361 (125,005) -11.6%
F & B 1,030,798 1,091,802 (61,005) -5.6%
Other 31,158 39,493 (8,336) -21.1%
Total 3,023,120 3,279,750 (256,630) -7.8%
Retail 1,983,508 2,202,222 (218,713) -9.9%
Lodging 2,636,879 3,011,607 (374,729) -12.4%
F & B 1,372,753 1,468,263 (95,509) -6.5%
Other 298,772 328,783 (30,011) -9.1%
Total 6,291,913 7,010,875 (718,962) -10.3%
Retail Apparel 495,854 522,024 (26,171) -5.0%
Retail Food 255,779 249,489 6,290 2.5%
Retail Gallery 2,465 10,080 (7,616) -75.5%
Retail Gift 14,163 12,997 1,165 9.0%
Retail Home Occupation 300 151 149 99.0%
Retail Jewelry 88,916 92,163 (3,247) -3.5%
Retail Liquor 68,031 75,117 (7,086) -9.4%
Retail Other 426,502 506,164 (79,662) -15.7%
Retail Sport 492,155 610,562 (118,407) -19.4%
Retail Online Retailer 139,344 123,473 15,871 12.9%
Total 1,983,508 2,202,222 (218,713) -9.9%
Cascade Village / East Vail / Sandstone / West Vail
Town of Vail Business Review
March 4.5% Sales Tax
2026 Collections 2025 Collections YoY % ChangeYoY $ Change
Total - All Areas
Lionshead
Out of Town
Vail Village
Retail Summary
Town of Vail Business Review
Q1 Sales Tax Collections by Year
Q1 2026 Sales Tax
Q1 2025
Sales Tax Collections by Business Type
Q1 2026
5,863,257
Lodging
8,154,550
Food &
Beverage
4,124,947
Utilities &
Other
965,655
$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
(5.6)% (4.2)%
(4.0)%
Retail
18,906,702
20,189,948
20,479,205
20,810,676
19,108,410
$0 $5,000,000 $10,000,000 $15,000,000 $20,000,000
2022
2023
2024
2025
2026
General Sales Tax
Housing Sales Tax
• Q1 2026 retail sales decreased (5.6)%, lodging decreased (12.2)%, food and beverage decreased
(4.2)%, and utilities and other decreased (4.0)%.
• The figures above reflect 4.5% sales tax.
Retail
6,214,122
Lodging
9,285,575
Food &
Beverage
4,305,046
Utilities &
Other
1,005,934
$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
(12.2)%
• 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. The 0.5% increase to sales tax is depicted in light blue. General 4.0% sales tax
collections are shown in darker blue.
• Total Q1 2025 collections were $20,810,676; Q1 2026 collections were $19,108,410, down from the prior
year (8.2)%.
Town of Vail Business Review
Q1 2025Q1 2026
Geographic Area Trends by Year
Q1 Sales Tax
Sales Tax by Location
Q1 2026 Sales Tax
2,781,520
2,814,304
2,970,122
2,870,031
2,560,174
3,538,670
3,807,544
3,885,302
3,714,391
3,288,870
4,074,443
4,403,917
4,147,353
4,659,614
4,406,855
8,512,069
9,164,184
9,476,429
9,566,640
8,852,511
Other Areas
14%
Lionshead
18%
Out of
Town
22%
Vail Village
46%
• Vail Village sales tax decreased (7.5)%, Lionshead decreased (11.5)%, Other Areas decreased (10.8)%,
and Out of Town decreased (5.4)%. Excluding Out of Town collections, all areas were down (9.0)%.
• The figures above reflect 4.5% sales tax.
$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
2022
2023
2024
2025
2026
Vail Village
Out of Town
Lionshead
Other Areas
• This chart shows Q1 sales tax collections by geographic area over time.
• The 0.5% increase for housing sales tax is depicted in lighter shades. General 4.0% sales tax
collections are shown in darker shades.
Other Areas
14%
Lionshead
17%
Out of
Town
23%
Vail Village
46%
Accommodation Services Sales Tax by Year
Retail Business 4.5% Sales Tax Detail
Q1 2026 Sales Tax
Town of Vail Business Review
Apparel
$1,482,627
Grocery
$720,262
Gallery
$25,370
Gifts
$36,576
Jewelry
$264,581Retail Liquor
$203,199
Retail Other
$1,223,436
Sporting Goods
$1,514,683
Online Retailers
$391,762
Retail Home
Occupation
$761
• Q1 2026 accommodations services decreased (12.2)% from the prior year. Short-term rentals decreased (9.9)%
and hotels and lodges decreased (13.2)%.
• 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.
6,552,881
2,803,571
6,452,461
2,833,114
5,601,265
2,553,285
$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
2026 2025 2024
Retail 663,572 768,403 (104,831) -13.6%
Lodging 1,435,729 1,688,636 (252,906) -15.0%
F & B 438,701 393,081 45,620 11.6%
Other 22,172 19,912 2,260 11.4%
Total 2,560,174 2,870,031 (309,857) -10.8%
Retail 848,594 944,187 (95,593) -10.1%
Lodging 1,740,471 1,994,199 (253,727) -12.7%
F & B 684,599 757,366 (72,767) -9.6%
Other 15,205 18,639 (3,434) -18.4%
Total 3,288,870 3,714,391 (425,521) -11.5%
Retail 1,425,397 1,467,136 (41,739) -2.8%
Lodging 2,138,124 2,333,457 (195,332) -8.4%
F & B 5,447 10,134 (4,687) -46.3%
Other 837,887 848,887 (11,000) -1.3%
Total 4,406,855 4,659,614 (252,759) -5.4%
Retail 2,925,694 3,034,396 (108,702) -3.6%
Lodging 2,840,225 3,269,284 (429,058) -13.1%
F & B 2,996,201 3,144,465 (148,264) -4.7%
Other 90,391 118,496 (28,105) -23.7%
Total 8,852,511 9,566,640 (714,129) -7.5%
Retail 5,863,257 6,214,122 (350,865) -5.6%
Lodging 8,154,550 9,285,575 (1,131,024) -12.2%
F & B 4,124,947 4,305,046 (180,099) -4.2%
Other 965,655 1,005,934 (40,278) -4.0%
Total 19,108,410 20,810,676 (1,702,266) -8.2%
Retail Apparel 1,482,627 1,470,036 12,591 0.9%
Retail Food 720,262 783,564 (63,302) -8.1%
Retail Gallery 25,370 32,604 (7,234) -22.2%
Retail Gift 36,576 34,274 2,302 6.7%
Retail Home Occupation 761 453 308 68.1%
Retail Jewelry 264,581 255,942 8,639 3.4%
Retail Liquor 203,199 224,476 (21,277) -9.5%
Retail Other 1,223,436 1,195,341 28,095 2.4%
Retail Sport 1,514,683 1,762,625 (247,942) -14.1%
Retail Online Retailer 391,762 454,807 (63,045) -13.9%
Total 5,863,257 6,214,122 (350,865) -5.6%
Cascade Village / East Vail / Sandstone / West Vail
Town of Vail Business Review
Q1 4.5% Sales Tax
2026 Collections 2025 Collections YoY % ChangeYoY $ Change
Total - All Areas
Lionshead
Out of Town
Vail Village
Retail Summary